Heitman, a global real estate investment management firm, announced the final closing of Heitman Value Partners IV at more than $1.1 billion, surpassing its initial target of $750 million.
“We are grateful for the strong support from our clients that allows us to execute our North American value-added investment strategy,” said Maury R. Tognarelli, Heitman CEO.
“We remain constructive in the later stage of the economic and investment cycle, and continue to see opportunities in today’s complex market environment that will serve our client’s property investment objectives.”
HVP IV is the fourth fund in Heitman’s North American closed-end, value-added fund series founded in 2003.
Through these funds, Heitman has invested, or has the capacity to invest, in approximately $7.6 billion of property situated throughout North America. To date, HVP IV has invested or committed 44 percent of the fund’s investable capital to investments in industrial, multi and single-family rental, medical office, self-storage, and student housing properties.
HVP IV’s investment objectives are to assemble a diversified portfolio of traditional and specialty property types, primarily through property-level joint venture partnerships with public and private REITs and real estate operating companies, that can benefit from the prudent use of additional capital to create value while generating higher total returns on investment.
“Our strategy for HVP IV is to identify investment themes that position the fund to outperform through the market dynamics that occur during its life,” said Thomas McCarthy, Heitman senior managing director. “We continue to focus on diversified investments in property sectors that are delinked or less-linked to the broader economy, will benefit from ongoing secular shifts, and work with seasoned real estate operators in order to execute our value-creation investment strategies.”