ING Clarion Partners Closes Investment Fund
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NEW YORK, (September 29) – ING Clarion Partners LLC, a leading real estate investment advisor and the U.S. operating arm of ING Real Estate Investment Management, announced today that it had recently closed ING Clarion Development Ventures III (CDV III), to new investment capital. The Fund, the third in a series, raised more than $200 million from seven institutional investors.
CDV III plans to invest in a broad range of potential real estate opportunities including development, re-development, joint ventures, mezzanine financings, and distressed assets. Property types to be considered include multi-family, industrial, office, retail, hotel, and land. The fund will focus primarily on the U.S., but has the ability to invest up to 20 percent of its assets in Mexico and Canada.
“While the real estate markets remain broadly challenging, there are opportunities for patient investors who can look ahead to the next upturn in the cycle,” said Doug Bowen, Managing Director at ING Clarion Partners, who noted that construction pipelines remain well below their historical averages. “With tighter lending standards coming into play across many of our target markets, it’s a good time to have capital to invest.”
Contact: Mike MacMillan MacMillan Communications, (212) 473-4442, mike@macmillancom.com |
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About ING Clarion
Founded in 1982, ING Clarion and its affiliates manage almost $50 billion in assets in the
private equity, public equity, and public debt sectors of the real estate markets. The ING
Clarion organization has nearly 500 associates located in major markets throughout the
UnitedStates.
The firm is the U.S. investment management arm of ING Real Estate, a global real estate
company active in investment management, development and finance. With a total
business portfolio approaching $180 billion and offices in 22 countries in Europe, the Americas, Asia and Australia, ING Real Estate ranks among the world's strongest real estate companies.
ING Real Estate is part of ING Group, a global financial institution of Dutch origin offering
banking, insurance and asset management to over 75 million private, corporate and
institutional clients in more than 50 countries.
More information about the firm is available at www.ingclarion.com.
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