Praedium Launches Latest RE Fund

The Praedium Group, a New York-based real estate investor, has attracted $700 million in private equity investments for its latest real estate fund.The money, together with the use of additional debt funding, will be used to acquire over $2 billion in real estate assets, the company said. The Praedium Fund VI is looking to invest in "mid-cap assets" in the United States and Canada in the $10 million to $70 million range, targeting multifamily, office, retail, and industrial properties. "We are seeking assets that can be enhanced through focused or creative leasing, management or repositioning," said Russell Appel, president of The Praedium Group. Besides Mr. Appel, the fund's principals are Floyd Lattin, Frank Patafio, and Christopher Hughes.