SAN FRANCISCO–(BUSINESS WIRE)–DivcoWest announces the final closing of its latest value-add real estate investment fund, DivcoWest Fund VI. The fund targeted $1.5 billion in capital commitments and was oversubscribed, closing at approximately $2.25 billion in capital commitments. The fund launched in October 2019 and held its final closing on September 30, 2020.
DivcoWest has a long track record of investing through multiple market cycles and across the risk spectrum. The firm seeks to invest in high quality commercial real estate assets in gateway U.S. markets, primarily targeting investments those that serve the innovation and life science sectors. DivcoWest Fund VI will continue the firm’s value-add investment strategy, focusing on leveraging its deep relationships to identify, analyze and acquire attractive opportunities.
“Like our tenants, we constantly have to innovate. Through the current volatility, and leveraging on our team’s experience, we believe we have an opportunity in Fund VI to capitalize on dislocations and explore and transform the markets where we do business,” said Stuart Shiff, DivcoWest CEO and Founder.
“Fund VI’s raise has allowed us to expand our capital base with key foreign relationships, while also growing and expanding our domestic partnerships,” added Heather Meyerdirk, DivcoWest’s Head of Capital Strategies and Formation. DivcoWest Fund VI investors include domestic public and corporate pension funds, insurance companies, sovereign wealth funds and high net worth individuals.
DivcoWest Fund VI will primarily pursue the acquisition of existing value-add life science, R&D and office properties in U.S. innovation markets, with the objective of investing additional capital to create workplace environments which appeal to future tenant demand.
Founded in 1993, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Los Angeles, Menlo Park, Boston, Washington DC and New York City. Known for long-standing relationships and experience across the risk-spectrum in markets where innovation thrives, DivcoWest combines entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities to the world’s most forward-thinking companies and investors. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 48 million square feet of commercial space – primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail and multifamily spaces. www.divcowest.com