Dubai, United Arab Emirates – (COMMERCIAL THREAD) – Earlier this month, Arden Group announced the definitive closing of the company’s third fully discretionary equity fund, Arden Real Estate Partners, III LP, at $ 500 million. Greenstone Equity Partners helped Arden close the fund by raising capital from its network of institutional investors based in the GCC.
Craig A. Spencer, CEO of Arden, said: “Although the global pandemic has slowed fundraising, we are glad that we were able to hit the fund cap, surpassing our initial goal of $ 300 million by 200 million. million dollars or 66%, with about 60% of the capital raised from institutional investors.
Taking advantage of the dislocation created by the global pandemic, the fund has already deployed $ 350 million to make opportunistic acquisitions in its three verticals: light industrial / last mile, offices and hotel. David Eberle, Managing Director of Arden Group, commented: “The Dubai-based Greenstone team has provided tremendous support to secure critical funding from across the GCC region. ”
Alex Gemici, CEO and President of Greenstone Equity Partners, said: “A key strategy for fast growing fund managers like Arden is to expand their LP base by raising capital from GCC investors. Since the COVID-19 pandemic, real estate remains a key investment strategy in the region. With Arden, we are proud to have been able to offer a world-class real estate fund to our investors. ”
Omar Al Gharabally, President and Chief Investment Officer of Greenstone Equity Partners, added: “We are delighted to work with Arden, who has been an important partner for Greenstone for many years, and whose entrepreneurial spirit and approach. disciplined investment align with those of our investors. strategy and vision.
About the Arden Group
Arden Group is a vertically integrated real estate investment management firm focused on equity and debt investments in the top 25 MSAs in the United States. Founded in 1989, Arden has acquired approximately $ 6 billion in properties and assets under management for more than $ 11 billion in commercial real estate assets. To find out more visit www.ardengroup.com
Greenstone Equity Partners is the largest fund investment firm in the Middle East and the leading provider of regulatory compliant fund marketing and registration services in the GCC. Founded in 2011, Greenstone has over 50 professional, 1,700 GCC Investor Relations, supporting fund managers with $ 1.4 trillion in assets under management. To find out more visit www.gsequity.com