Farallon Capital Management closed its latest U.S.-focused opportunistic real estate fund at over $650 million.
Farallon Real Estate Partners IV (FREP IV) will employ a value-driven/opportunistic strategy while targeting equity, preferred equity and distressed debt investments with core sub-sectors. These include industrial, multi-family, retail and office property type.
FREP IV is managed by Farallon’s Real Estate team that is led by Rocky Fried and Josh Dapice. The firm boasts a three-decade long track record in commercial real estate and has deployed $7.4 billion over that time frame.
“Farallon’s long history of completing transactions throughout market cycles and its established global relationships position us to benefit from the current scarcity of capital in the U.S real estate markets,” said Fried, partner at San Francisco-based Farallon and head of U.S. real estate. Dapice added that the U.S. real estate environment is one that is in the early innings of a widespread correction that will lead to attractive acquisition opportunities.