DLA Piper represented Regent Properties (Regent), a multi-faceted real estate investment management firm, in its fundraising of US$300 million in equity commitments. The $300 million in commitments exceeds Regent Properties’ fundraising goals by 50%.
The investors in the fund include BlackRock and Caxton Alternative Management, as well as high net worth family offices. DLA worked with Regent in the creation of its fund, and in the negotiation of the terms of investment of the $US300million in committed capital.
Regent plans to use the funds to invest in value-add and opportunistic office properties in primary and secondary markets west of Texas. It already has a portfolio of properties in Phoenix, San Diego and Dallas. Single property values within this strategy will range from $15 million to $75 million. Regent Properties held its initial close of this fund in September of last year with $60 million in capital commitments.
The DLA Piper team representing Regent included: William A. Rudnick, Nicholas Minear and Brooke Kerendian (Chicago) and Penny J. Minna (Baltimore).
Source: news.dlapiper.com
