Florida-based commercial real estate firm Adler Group has launched its first property investment fund.
The $100 million value-add vehicle, Helios AR Real Estate Fund I, will target income-producing commercial real estate. It was seeded by an unnamed European high-net-worth investor.
The fund will invest in office, flexible, industrial, retail, and other real estate-related investments in the Southeast and Mid-Atlantic regions of the US.
Michael Adler, the firm’s chairman and chief executive, said in a statement current market conditions made it important to have discretionary funds available in order to acquire “high quality assets” at “reasonable pricing”. The firm expected to place $100 million of equity over the next 18 to 24 months.
Helios AR Real Estate Fund I has already made two investments, including the acquisition of Breckenridge Park in Tampa, Florida, which closed earlier this month. The deal comprised a 15-building, 332,582-square-foot mixed-use complex.
The fund is being managed by Adler Helios MMI, an affiliate of the firm, and co-managed by Assos Capital USA, an affiliate of Assos Capital Limited. The two expected to launch their second real estate investment vehicle in “the near future”.