Transwestern launches new value-added fund
Wednesday, July 19, 2017
Source: Institutional Real Estate, Inc.
Transwestern has launched its latest real estate vehicle, TSP Value and Income Fund II, according to IREI’s FundTracker database.
TSP Value and Income Fund II is a value-added real estate investment vehicle. The fund will invest in office, industrial, medical office, multifamily, retail and suburban office properties throughout the United States. The fund is seeking to raise a maximum of $350 million in total equity commitments and has raised $70 million so far.
The fund’s predecessor, TSP Value and Income Fund, held a $160 million final close in 2016. The fund has already acquired more than 3.6 million square feet of industrial assets — in Austin; Chicago; Columbus, Ohio; Indianapolis; and Louisville, Ky. — as well as more than 900,000 square feet of office assets in Atlanta, San Jose, and Scottsdale, Ariz.
TSP Value and Income Fund has generated returns of more than 9 percent with a 16.5 percent expected gross internal rate of return.