Value-Add

The London-based manager, which launched in March, has made the acquisition on behalf of its debut European real estate fund.

London-based manager Evonite expects to hit the road with its first investment vehicle within the next few months.

Those expecting values to be correlative to debt ‘are holding out for something that won’t happen,’ says the capital markets executive.

The firm is looking for the right conditions to float the vehicle amid volatile C-REIT market pricing in China.

The oversubscription of the Atlanta-based manager’s sixth fund exemplifies how the asset class continues to attract investors despite headwinds

The Atlanta-based firm’s Cortland Enhanced Value Fund VI is more than double the size of its predecessor.

With only a 7.4% increase, the investor also recorded a slower climb in real estate commitment compared with prior years.

The executive’s promotion to chief of staff follows a senior management reshuffle announced at the end of July.

The Los Angeles-based manager also expects to hold two real estate fund closes over the next two months.

With only $59bn raised in the first half of the year, 2024 is on track to be the worst fundraising year since 2012.