The individual portfolio programs will likely range from $100 million to $500 million, according to the national real estate development and investment firm, which plans to chip in 25% to 50% of the equity in each program.
"This new co-investment program is the second phase in ORIX's strategy to build a portfolio management unit that complements the company's highly successful development activities," says ORIX senior vice president Bernard Buchholz in a statement. "We anticipate holding each portfolio for a period of five to seven years and achieving opportunistic sales during recovering markets. The co-investment program targets leveraged returns exceeding 16% over the life of each investment."
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