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Ascentis Real Estate Partners announces closing of international equity fund. Investments planned for US multi-family, retail, office and industrial properties.

Ascentis Real Estate Partners announces the first closing of a $200 million equity fund, Diversified International Partners (DIP). DIP is a real estate private equity fund developed for Latin American institutional and qualified high net worth investors. Finesa successfully secured commitments from some of the most prominent pension fund and endowment managers in Latin America.

Ascentis Real Estate Partners the first closing of a $200 million equity fund, Diversified International Partners (DIP). DIP is a real estate private equity fund developed for Latin American institutional and qualified high net worth investors. Ascentis successfully secured commitments from some of the most prominent pension fund and endowment managers in Latin America.

Ascentis retained Transwestern Investment Management (TIM) as the exclusive investment manager. Together, Ascentis and Transwestern developed a diversified strategy designed to mitigate downside risk while achieving institutional investor returns. The first closing was expected to have aggregated commitments of $50 million. That goal was exceeded by more than 40% and a total of $71 million raised. The fund will continue raising capital through the second quarter of 2013 and is anticipated to be fully subscribed.

DIP is actively seeking investments in the best markets across the country, focusing on multi-family, retail, office, and industrial/flex properties. The fund will target cash flow generating assets in a combination of Core, Core-Plus and Value-Add strategies, which in some cases will offer opportunities to marginally increase operating results through a hands-on operating efficiency.

“We believe now is a great time for our investors to jump back in to the US market. Today our investments are achieving strong yields and our investors are buying dollars with strong foreign currencies. For them, it is a great combination. Ascentis strong base of international investors is enthusiastic about the opportunities we can access for them today.” states Andres Gonzalez, President and CEO of Ascentis Real Estate Partners.

 

According to Laurie Dotter, President of TIM, “Our partnership with Finesa has helped us reach our goal of becoming an international investment management platform.” Diversified International Partners marks the first time that Colombian Pension Funds have invested in real estate in the U.S. through this type of discretionary format. “We are excited about this historic milestone for TIM, Ascentis, and our institutional investors. Our goal is to continue broadening the reach of TIM’s best in class expertise.”

FINESA REAL ESTATE GROUP

Ascentis Real Estate Partners (“Ascentis”) is a real estate private equity firm and operating company founded in 2002 and headquartered in Washington DC’s metropolitan area. Finesa specializes in the acquisition, redevelopment and management of commercial assets. Historically, the firm has operated along the East Coast and Mid-West regions of the United States, with focus on multifamily and retail properties. By launching DIP in 2012, Finesa is now expanding its footprint nationally and across all four commercial asset classes: multi-family, retail, office, and industrial/flex properties.

Through its robust in-house capabilities, Finesa is able to deliver exceptional value to its investors, clients and employees. International investors seeking capital preservation investment opportunities back Ascentis. The firm has consistently found attractively priced assets and excelled at managing capital for its investors.

TRANSWESTERN INVESTMENT MANAGEMENT

Transwestern Investment Management (“TIM”) is a privately-held, operationally independent investment advisory firm with the experience and capabilities to customize investment strategies to address changing risks and opportunities in the U.S. real estate markets. The firm is a subsidiary of Transwestern Investment Group, the real estate investment firm serving a broad range of clients through a diversified array of vehicles including separate accounts, joint ventures and programmatic funds.

The firm’s operating structure is designed to increase accountability, risk management and investment and asset management decision-making directly impacting the client’s investment objectives. Clients benefit from Transwestern’s national best-in-class services, access to penetrating local market insight and research, enhanced access to opportunities and superior local execution capabilities.

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