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LOS ANGELES–Los Angeles-based CB Richard Ellis Investors, L.L.C., the investment management arm of the global real estate services firm CB Richard Ellis, has fulfilled its target of $324 million in investments for creation of CB Richard Ellis Strategic Partners, L.P., announced Robert Zerbst, president and CEO.

This value-added investment partnership includes 16 U.S. and international investors, including 10 new clients, according to Vance Maddocks, president of the fund’s general partner. CB Richard Ellis specializes in management of real estate investments for institutional investors.

So far the fund has committed $500 million, or 70% of its total capitalization of $720 million, in various property types and markets. The fund will invest another $220 million in real estate and is particularly interested in the Los Angeles, San Francisco and Chicago markets. The fund’s investment focus is repositioning, releasing and development opportunities involving institutional-quality properties.

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