Arden Group announces final close of Arden Real Estate Partners, III L.P. at $500 million
5Capital Funds Placement served as an advisor to the firm on their successful fundraise
PHILADELPHIA, Pa. (June 4, 2021) – Arden Group (“Arden”) is pleased to announce the final close of the firm’s third fully discretionary equity fund, Arden Real Estate Partners, III L.P. (“AREP III” or the “Fund”), at $500 million. 5Capital Funds Placement served as an advisor to the firm on their successful fundraise.
Craig A. Spencer, Arden’s CEO, stated “although the global pandemic slowed fundraising, we are pleased that we were able to reach our hard cap, exceeding our initial target of $300M by $200 million or 66%, with approximately 60% of the capital raised from institutional investors.
Allan Majotra, Managing Partner at 5Capital noted “Arden remains a high conviction real estate private equity fund manager for us. It is clear that a number of our institutional investors and family offices agree with us, and that is reflected in both the re-ups, as well as a number of first time LPs, in AREP III.”
The Fund has been able to make some opportunistic acquisitions due to the dislocation created by the global pandemic in all three of its verticals: light/last mile industrial, office and hotel, with total equity deployed to date at $350 million.
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About Arden Group
Arden Group is a vertically integrated real estate investment management firm focused on equity and debt investments in the top 25 US MSA’s. Founded in 1989, Arden has acquired approximately $6 billion of properties and asset managed in excess of $11 billion of commercial real estate assets. In 2012, Arden Group established Arden Fund Management, its real estate equity and debt fund management business with offices in Philadelphia, New York, Tampa, Miami, Minneapolis, Cleveland and Newport Beach. Arden Group has been consistently ranked globally as a top performing Private Fund Manager including receiving Preqin’s #1 global ranking in 2017, 2018 and 2019 and was again featured as one of the “Most Consistent Top Performing Private Real Estate Fund Managers” in 2021.
About 5Capital Funds Placement
5Capital is one of the leading independent placement agents globally and works with pre-eminent fund managers and their institutional investors and family offices, across private equity, real estate, infrastructure, private credit, and venture capital, globally. 5Capital has presence in Chicago, Miami, Los Angeles, Boston, Philadelphia, Atlanta, Munich, Tel Aviv, Taipei, and Sydney.