SAN FRANCISCO-Shorenstein Properties LLC says it has re-closed its latest fund after growing its capital commitments to more than $2 billion. After previously closing with $1.3 billion in committed equity Shorenstein re-opened the fund to additional commitments at the end of 2007 to take advantage of disruptions in the debt markets. Shorenstein itself has committed $154 million to the fund.

The locally based company’s chief executive Doug Shorenstein says the dislocation of the credit markets last summer, and the ongoing uncertainty created by that event, makes this a good time to have committed discretionary capital. “We think the market in front of us will present opportunities to make attractive debt and equity investments for those investors with the right combination of patience, expertise and capital,” he says.

Fund Nine focuses on value-added office and mixed-use properties located in major markets throughout the US. In addition to single asset acquisitions, investments have included portfolios of properties, preferred equity, mezzanine loans, ground-up developments, and structured joint ventures.

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