The first of these funds was formed with $120 million and thesecond was established a year later with $300 million. OpportunityFund II invested in 35 properties in nine states that had beenowned by a bankrupt furniture chain as well as in 53 MontgomeryWard outlets. Since Lubert-Adler was formed in 1997, it has raisedmore than $1.25 billion in capital for opportunistic real estateinvestments.
Investors in Lubert-Adler Real Estate Fund III include six stateand municipal funds, nine academic endowments and five corporatepension funds as well as several high net worth individuals.IraLubert, co-founder of the company as well as several other privateequity firms, notes that, "We believe that this level ofinstitutional commitment represents a strong endorsement of thevalue-added redevelopment strategy that we employ."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
