DivcoWest closes real estate investment fund at $2.25bn

DivcoWest closes real estate investment fund at $2.25bn

DivcoWest, a real estate investment firm headquartered in San Francisco, has closed its latest value-add real estate investment fund, DivcoWest Fund VI, at approximately $2.25 billion in capital commitments, exceeding the fund’s target $1.5 billion.

The firm aims to invest in high quality commercial real estate assets in gateway U.S. markets, primarily targeting investments those that serve the innovation and life science sectors.

“Like our tenants, we constantly have to innovate. Through the current volatility, and leveraging on our team’s experience, we believe we have an opportunity in Fund VI to capitalize on dislocations and explore and transform the markets where we do business,” said Stuart Shiff, DivcoWest CEO and Founder.

“Fund VI’s raise has allowed us to expand our capital base with key foreign relationships, while also growing and expanding our domestic partnerships,” added Heather Meyerdirk, DivcoWest’s Head of Capital Strategies and Formation. DivcoWest Fund VI investors include domestic public and corporate pension funds, insurance companies, sovereign wealth funds and high net worth individuals.

DivcoWest said the fund will primarily pursue the acquisition of existing value-add life science, R&D and office properties in U.S. innovation markets.