Endeavor Real Estate Group closes $210M Texas-focused value-add fund
Expected leverage and co-investment could carry aggregate capitalization above $3.0 billion, subject to investment activity and market conditions.
At a glance
Endeavor Real Estate Group closed a $210 million private equity fund focused on Texas and a handful of other Sun Belt markets, according to a Connect CRE report.
The fund drew commitments from new and existing investors, including national insurance firms, a large Texas-based endowment and other private investors.
Endeavor intends to run a value-add strategy and expects to make 30 to 40 investments, each sourced and executed by the firm.
Endeavor Real Estate Group closed a $210 million private equity fund focused on Texas and a handful of other Sun Belt markets, according to a Connect CRE report. The Austin firm also plans to invest in Nashville, Charlotte and Salt Lake City. The fund is expected to support more than $3.0 billion in aggregate capitalization when combined with anticipated leverage and co-investment capital, subject to investment activity and market conditions.
The fund drew commitments from new and existing investors, including national insurance firms, a large Texas-based endowment and other private investors.
Endeavor intends to run a value-add strategy and expects to make 30 to 40 investments, each sourced and executed by the firm. The target list spans multifamily, retail, student housing, hospitality, industrial and mixed-use, through acquisition or development.
Spread evenly across 30 to 40 investments, the $210 million would average about $5.3 million to $7 million per deal before co-investment.
| Terms as reported | Detail |
|---|---|
| Fund size | $210 million |
| Strategy | Value-add; acquisition or development |
| Sectors | Multifamily, retail, student housing, hospitality, industrial, mixed-use |
| Target deal count | 30 to 40 investments |
| Anticipated aggregate capitalization | More than $3.0 billion with leverage and co-investment |
| Named investor types | National insurance firms; a large Texas-based endowment; other private investors |
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