CBRE Closes Fifth Development Fund Oversubscribed

Los Angeles

CBRE has closed CBRE U.S. Development Partners 5, its fifth development fund, oversubscribed. The fund and co-investment vehicles closed with $616 million in equity commitments, exceeding the firm’s initial target. The fund is now closed to new investors.

This fund is a continuation of CBRE’s development series funds, which targets development investing in the US. It will continue its partnership with developer Trammell Crow Co. to develop a diversified portfolio of institutional quality assets, both mixed-use and commercial. The fund has already invested 90% of its equity in 10 properties in Dallas, Denver, Phoenix, Portland, San Jose and Washington, D.C.