DivcoWest Raises Largest Fund to Date

Publication: Yahoo Finance

DivcoWest announces the final closing of its latest value-add real estate investment fund, DivcoWest Fund VI. The fund targeted $1.5 billion in capital commitments and was oversubscribed, closing at approximately $2.25 billion in capital commitments. The fund launched in October 2019 and held its final closing on September 30, 2020.

DivcoWest has a long track record of investing through multiple market cycles and across the risk spectrum. The firm seeks to invest in high quality commercial real estate assets in gateway U.S. markets, primarily targeting investments those that serve the innovation and life science sectors. DivcoWest Fund VI will continue the firm’s value-add investment strategy, focusing on leveraging its deep relationships to identify, analyze and acquire attractive opportunities.

“Like our tenants, we constantly have to innovate. Through the current volatility, and leveraging on our team’s experience, we believe we have an opportunity in Fund VI to capitalize on dislocations and explore and transform the markets where we do business,” said Stuart Shiff, DivcoWest CEO and Founder.

“Fund VI’s raise has allowed us to expand our capital base with key foreign relationships, while also growing and expanding our domestic partnerships,” added Heather Meyerdirk, DivcoWest’s Head of Capital Strategies and Formation. DivcoWest Fund VI investors include domestic public and corporate pension funds, insurance companies, sovereign wealth funds and high net worth individuals.

DivcoWest Fund VI will primarily pursue the acquisition of existing value-add life science, R&D and office properties in U.S. innovation markets, with the objective of investing additional capital to create workplace environments which appeal to future tenant demand.