Arden Group Announces the Final Closure of Arden Real Estate Partners, III LP with $ 500 Million Capital

0
62

[ad_1]

Dubai, United Arab Emirates – (Earlier this month, Arden Group announced the final closure of the company’s third fully discretionary equity fund, Arden Real Estate Partners, III LP, at $ 500 million. Greenstone Equity Partners supported Arden in closing the fund by raising capital from its network of Gulf-based institutional investors.

Craig A. Spencer, CEO of Arden, said: “While the global pandemic has slowed fundraising, we are delighted that we were able to reach the hard cap of the fund, exceeding our original $ 300 million target by $ 200 million, or 66%, with about 60% … capital raised from institutional investors ”.

Taking advantage of the dislocation caused by the global pandemic, the fund has already channeled $ 350 million into lucrative acquisitions across all three of its verticals: light / last mile, offices and hotels. David Eberle, Managing Director of the Arden Group, commented: “The Greenstone team in Dubai has provided tremendous support in securing critical funding from across the Gulf region.”

Alex Gemichi, CEO and Chairman of Greenstone Equity Partners, said: “A key strategy for fast-growing fund managers like Arden is to expand their LP base by raising capital from GCC investors. After the COVID-19 pandemic, real estate remains a key investment strategy in the region. Together with Arden, we are proud to have been able to provide our investors with a top-notch real estate fund. ”

Omar Al-Garabally, President and General Manager of Public Offerings, Greenstone Equity Partners, added: “We are delighted to be working with Arden, who has been an important Greenstone partner for many years, whose entrepreneurial mindset and disciplined investment approach match our investors.” strategy and vision ”.

About the Arden group of companies

The Arden Group is a vertically integrated real estate investment management company specializing in equity and debt investments in the 25 largest US MSAs. Founded in 1989, Arden has acquired approximately $ 6 billion in property and assets under management, valued at over $ 11 billion in commercial real estate. To find out more visit www.ardengroup.com

About Greenstone

Greenstone Equity Partners is the largest fund placement company in the Middle East and a leading provider of fund marketing and registration services in the Gulf region. Founded in 2011, Greenstone has over 50 professionals, 1,700 Gulf investors supporting fund managers with $ 1.4 trillion AUM. To find out more visit www.gsequity.com

*A source: AETOSWire

[ad_2]

Source link