Canyon Partners Real Estate LLC has concluded the final closing of its Canyon US Real Estate Debt Fund III (CRED III), securing $1.2 billion in assets. This figure exceeds the fund’s initial target of $1 billion and represents the largest US real estate debt fund raised by the firm, nearly doubling the $650 million raised for its predecessor.
Robin Potts, Partner and Chief Investment Officer of Real Estate at Canyon, stated, “The expansion of our debt platform highlights the market’s recognition of our disciplined investment methodology and consistent performance across varying economic cycles. In the current economic climate, characterized by sustained high-interest rates, we see considerable opportunities to provide flexible capital solutions to borrowers while achieving strong risk-adjusted returns for our investors. Having already deployed 44% of the fund’s capital, we believe this is a pivotal moment for real estate debt investment.”
CRED III has garnered interest from a wide range of global investors, including sovereign wealth funds, public and corporate pensions, endowments, financial institutions, registered investment advisors (RIAs), and family offices. Investors hail from regions such as the US, Asia, the Middle East, Europe, and South America.
The fund targets a variety of real estate debt opportunities, including senior and subordinate investments, as well as primary and secondary market real estate credit securities. Its investments span property types with an emphasis on multifamily and other defensive asset classes that are benefitting from demographic trends and supply-demand imbalances.
Canyon Partners has been managing institutional real estate investments since the 1990s. Its real estate platform currently oversees $4 billion in investor capital, with a total capitalization of $12.6 billion across its real estate portfolio.
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By Proptechbuzz
By Ravi Kumar
