Urdang Capital Management, a real estate investment manager based in Plymouth Meeting, Pa., has announced the closing of the Urdang Value-Added Fund II LP after raising $463 million in equity. Richard Ferst, the company's president and chief operating officer, said the fund will target mainly office, retail, multifamily, and industrial properties with capitalizations ranging from $20 million to $75 million. "To date, the fund has acquired eight properties with an aggregate capitalization of $400 million," he said. Urdang is a unit of Bank of New York Mellon, which can be found on the Web at http://www.bnymellon.com.
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