Harbert United States Real Estate Fund IV Completes Final Close
Harbert United States Real Estate Fund IV completed its final close on August 31, 2011.
Birmingham, Alabama, September 12, 2011 – Harbert United States Real Estate Fund IV (“HUSREF IV”) completed its final close with a total of $134.2 million of committed equity on August 31, 2011.
“During a difficult capital raising environment, we received great support from new and existing clients as a result of our consistent performance and investor’s confidence in our ability to execute,” said Michael White, Senior Managing Director for HUSREF IV. “We’re grateful for this endorsement and look forward to working on behalf of our investors.”
HUSREF IV has already invested $71 million across ten transactions creating a geographically diverse portfolio of multi-family, office, retail and self-storage assets. The investment team has a robust pipeline and will continue to focus on investments that exhibit strong current cash returns and yield enhancement potential.
About Harbert Management Corporation
Harbert United States Real Estate Fund IV, L.P. is sponsored by Harbert Management Corp (“HMC”). HMC, together with its sponsored funds, has owned, developed and managed multifamily, office, industrial, retail and self storage properties throughout the Southeastern and Southwestern United States. HMC has a history of identifying real estate investment opportunities through its network of long-term, strategic relationships. HUSREF IV’s approach is hands-on, targeting properties that the HUSREF IV Investment Team believes are undervalued, and where value can be created through focused operational management. Additional information about HMC can be found at www.harbert.net.
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