Heitman LLC has raised $806 million for a fund that will provide real estate loans across the U.S.
The money raked in from the Heitman Real Estate Debt Partners III fund (HDP III) is above the $600 million figure the investment management firm targeted initially. It got support from both new investors and existing ones who have participated in the Chicago-based firm's fund series.
Heitman said in a statement that it will be seeking to find high-quality sponsors working on real estate projects in both alternative and traditional property sectors. The goal of HDP III is to prioritize returns that fit its core-plus and value-add equity strategies. The first strategy focuses on divergence, convergence, and delinked, according to Heitman. The latter seeks value opportunities with a more targeted approach for deploying capital.
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