Coventry Real Estate Advisors, New York, has raised $330 million in equity capital from institutional investors for its Coventry Real Estate Fund II.Acquisitions for the fund, which will invest in "value-added" retail properties nationwide, will be made through joint ventures with Developers Diversified Realty, Coventry said. The real estate investment trust said it will provide management and leasing services to the fund, and will also make a 20% equity co-investment in each fund acquisition. The fund will have the capacity to acquire over $1 billion of assets, including the two partners' equity contributions and a potential 65% debt component, Coventry said.
Processing Content
