WASHINGTON, DC—Rockpoint Group, a Boston-based real estate private equity firm, has closed on $950 million of equity commitments for Core Plus Fund I.
This is the company's first lower-risk, lower-return core plus investment vehicle, and a source has told GlobeSt.com, one of the cities of interest is Washington DC.
Rockpoint typically sponsors opportunistic funds and has raised more than $8 billion of equity capital via these funds since 2003, including its most recent opportunistic fund, Rockpoint Real Estate Fund IV, which closed in March 2013 with $2.33 billion in investor commitments.
Core Plus Fund I was not formally marketed and was raised from a small group of primarily existing investors.
The fund will target lower-risk, lower-return investments in the US, with an emphasis on high-quality assets in top tier markets.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
