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Meadow Partners Raises $530M for 6th Flagship Fund

4 months ago

This opportunistic fund targets investments in commercial real estate as well as preferred equity and distressed debt. The post Meadow Partners Raises $530M for 6th Flagship Fund appeared first on Commercial Property Executive.

Jeffrey Kaplan, founder & managing partner of Meadow Partners. Image courtesy of Meadow Partners

Meadow Partners’ sixth flagship fund has received strong support from new and longtime investors. Meadow Real Estate Fund VI LP, alongside several dedicated co-investment vehicles, accumulated a total of $530 million in new capital commitments.

Public pension plans and university endowments were among the investors in the opportunistic fund that targets residential, industrial and retail real estate as well as preferred equity and distressed debt.

Fund VI launched in February 2022 and, to date, has committed $95 million of equity in 10 investments. The firm declined to disclose locations or further details about those investments.

Markets targeted by the fund include New York City, London and other major areas in the United States and United Kingdom. Meadow Partners focuses on individual assets, owners and lenders to source unique opportunities to invest in highly liquid markets.

Meadow’s diverse portfolio

Since its founding in 2009, Meadow Partners has invested more than $2.8 billion in equity through its opportunistic fund series. Based in New York City and London, Meadow is a $6.2 billion real estate manager that specializes in middle-market transactions. The firm currently manages a series of commingled opportunistic funds, a perpetual life vehicle and two core/core-plus separately managed accounts.

Meadow’s portfolio includes about 1.8 million square feet, or 95.8 acres, of industrial space; 3.9 million square feet of office space; 535,000 square feet of retail space as well as 1,854 multifamily units and more than 1,700 units under development, according to its website.

One of its office properties is the Textile Building in Midtown Manhattan, owned in partnership with Tribeca Investment Group and PGIM Real Estate. Last fall, the joint venture secured a 132,000-square-foot lease from global litigation law firm Quinn Emanuel Urquhart & Sullivan at the 17-story mid-rise. The building underwent a $350 million redevelopment that was completed in April 2023.

Meadow also invests in industrial outdoor storage, a growing subsector that has garnered attention in recent years from institutional investors and private equity firms. In August 2023, Meadow Partners and IG Logistics LLC, Imperium Capital’s industrial platform, leased more than 4 acres of a 26.7-acre IOS site in central Denver to DryBox USA, a Denver-based shipping and storage container supplier. The joint venture had acquired the property at 409 W. 66th Ave. for $19 million.

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