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CBRE attracts $1.34B for 8th US value-added real estate fund

CBRE Global Investors drew $1.34 billion for its eighth U.S. value-added real estate fund from 25 institutional investors across the U.S., Europe, the Middle East and Asia, IPE Real Assets reported.

The capital raised gives the fund purchasing power of $3.3 billion including leverage, according to the publication.

CBRE said it has deployed 59% of the equity raised with the acquisition of $2 billion of office, multifamily, mixed-use and logistics assets. The real estate investment manager is targeting an 8% return upon asset stabilization, the publication noted.