Fund VI is a $350 million closed-end, commingled investment fund that will invest in real estate over the next two to three years. Targeting a blended rate of 15% to 20%, the Fund will emphasize capital preservation and current cash flow, while pursuing a balanced strategy of combining core, value added and discounted properties with less risky development.
Acquisitions will focus on properties priced below replacement costs that offer current cash flow including, office space, warehouses, multi family and retail properties. Additionally, sponsors of the Fund will co-invest $20 million dollars in the Fund to align their interests with that of the investors, said the release.
The new fund will add to New Boston’s current portfolio of holdings valuing $1.5 billion and totaling 12 million square feet. Fund VI will follow Fund V, a $260 million fund currently 90% invested.