PEI Group Data

The Miami-based firm is expected to complete a rolling first close for the opportunistic vehicle later this year.

The asset manager raised 60% of the commitments for its latest opportunistic real estate vehicle from new investors.

The New York- and London-based manager has reduced the fund’s target deal size as a reflection of where it sees distress emerging. 

The firm, which closed $100m over its target for Fund VI, is part of a growing percentage of managers beating their fundraising goals.

The South Carolina-based manager has raised $1.9bn for the latest iteration in its flagship multifamily fund series.