Heitman, which had approximately $ 44 billion in assets under management as of June 30, has raised money from institutional investors including sovereign wealth funds, retirement plans, foundations and corporations around the world.
“The Covid environment has accelerated long-term changes in the retail and office environment,” Tonyarelli said. “We believe they still deserve to be included in portfolios because they offer favorable entry points.”
Heitman’s equity funds are “moderately leveraged,” and its loan fund will seek to raise about $ 1.5 billion in borrowings such as subordinated debt, preemptive construction loans and preemptive bridging loans.
According to Tonyarelli, the company will focus on investing its new funds in commercial real estate such as warehouses, medical offices, apartments, student residences, retirement housing, warehouses and offices.
The three Heitman funds will also seek to provide capital to repurpose retail and office buildings, potentially as residential, mixed-use or hotel assets.
Offices may be used in different ways in the future, Tonyarelli said, as employers take a hybrid approach rather than full-time in-person presence.
“As real estate investors, we are entering a rather attractive era,” he said.