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.

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