Fund IX · Core I
Fund IX · Core I
Stabilized, Income-Producing Real Estate with Low Leverage
Fund IX acquires stabilized, income-producing real estate — office, industrial, retail, and multifamily — underwritten for durable current yield and held with low leverage across institutional-quality holdings.
Strategy
The mandate.
Fund IX acquires stabilized, income-producing real estate assets across the office, industrial, retail, and multifamily sectors, targeting properties with in-place cash flow, strong tenancy, and low leverage. The strategy prioritizes capital preservation and durable current yield over speculative appreciation, deploying conservative capital structures against institutional-quality assets in growth-oriented Sun Belt markets. Fund IX is designed as a Core allocation within the platform — a lower-volatility complement to the platform's development and value-add strategies.
Focus Areas
- Institutional-quality stabilized assets
- Long-duration current yield
- Sub-50% LTV capital structure
- Diversified property-type exposure
Fund Terms
Structure & economics.
| Term | Fund IX |
|---|---|
| Target Fund Size | $1.102B |
| Structure | Delaware limited partnership |
| Preferred Return | 9%, compounded |
| Carried Interest | 20% above the 9% preferred, with 100% GP catch-up |
| GP Commitment | 2% of committed capital |
| Distribution Waterfall | European, whole-fund |
| Minimum LP Commitment | $2,000,000 |
| Target Net IRR | 20–28% |
| Leverage | 40–55% LTV (raw) / 50–60% LTV (entitled) |
| Investment Period | 5 years |
| Fund Term | 10 years, plus two 1-year extensions |
Terms shown are indicative and are qualified in their entirety by the fund's definitive offering documents, available to qualified investors.
Interested in Fund IX?
Request offering materials and speak with our investor relations team.