LOS ANGELES-CB Richard Ellis Investors has closed $2.1 billion in funds, called CB Richard Ellis Strategic Partners US 5, to buy and reposition institutional properties in the US. The new funds, which have raised commitments from institutional investors in the US, Europe and the Middle East, plan to buy, reposition, develop and sell institutional quality real estate in major metropolitan areas in the US. With leverage, CBRE Investors says, it will have total purchasing power of $6.4 billion to invest in office, multifamily, industrial and retail properties.

CBRE US 5 is among a number of investment funds operated by CBRE Investors, which is an independently operated affiliate of CB Richard Ellis. The company says that US 5 will operate as two funds, Strategic Partners US Value 5 and Strategic Partners US Opportunity 5. Value 5 will make value-added investments to reposition assets, stabilize moderate levels of vacancy, invest in “controlled risk” development and pursue a portfolio accumulation strategy. Opportunity 5 will execute extensive repositioning programs primarily in distressed assets with high levels of vacancy, invest in “early stage” development, acquire and reposition portfolios and invest in operating companies that control high-quality real estate.

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