Atlas Capital Group in New York just closed its latest fund at $405 million; additionally, company officials secured $120 million in co-investment commitments. Over 93% of the investors from Atlas’ 2018 vintage predecessor vehicle have re-committed to Fund VI.
Atlas Capital Investors VI will invest in value-add real estate opportunities in New York and Los Angeles, where officials say they have established a deep track record of delivering attracted risk-adjusted returns across market cycles.
The fundraising for the $4.9 billion firm’s latest fund began in February 2020 with the pandemic revealing challenges in specific markets. Park Madison Partners served as the fund’s exclusive placement agent.
Fund VI has already deployed approximately 25% of capital commitments across five investments in the residential, industrial, media, and mixed-use sectors.
The firm’s flagship strategy is focused on cost basis, creative business plans and conservative capital structures. The aim is to capitalize on distress, mispricings and secular trends in the New York and Los Angeles real estate market.
Atlas officials said they believe the pandemic and recent capital market volatility will create opportunities for Fund VI to acquire properties at an attractive basis. To date Atlas has invested over $4 billion of equity in the United States across 65 residential, industrial, office, retail, and mixed-use real estate investments comprising over 14 million square feet and $7 billion of total capitalization.