Lionstone Investments has made the final close of Lionstone US Value-Add Five, a diversified fund that uses advanced analytics to acquire and rehab transitional multifamily, office and retail assets, especially those located in mixed-use developments in locations "where innovation, economic vitality and today's most productive companies and people intersect," as the firm described it.
Lionstone, whose parent company is Columbia Threadneedle Investments, raised $745 million, exceeding its target raise by $100 million. In addition to the recommitment of 100% of the partners from the previous fund, Lionstone Value-Add Four, the new fund also added new investors from Asia and the Middle East.
LVA Five has already acquired two assets and is under contract to purchase a just delivered multifamily project in Raleigh, NC. Bryan Sanchez, CIO of Lionstone, says the company is using analytics to gain early intelligence on potential market developments.
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Launched in 2005, Lionstone's value-add program has invested in and advised on over $2.4 billion of equity in value-add properties. LVA Four, which closed in January 2017, invested $500 million in a portfolio of nine multifamily, office, and mixed-use retail assets across the US. LVA Five will pursue the same underlying investment strategy, but using more advanced data analytic tools.
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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.
