Ropes & Gray Advises CBRE Global Investors on CBRE U.S. Development Partners 5
Ropes & Gray advised CBRE Global Investors on the formation of CBRE U.S. Development Partners 5, a development club fund with equity commitments of $616 million to the fund and its co-investment vehicles, exceeding its capital-raising target. The fund announced its final closing on July 22.
CBRE Global Investors is a global real asset investment management firm with $107.2 billion in assets under management* as of March 31, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide. Development 5 is a continuation and evolution of a fund series sponsored by CBRE Global Investors focused on development investing in the United States.
The Ropes & Gray team was led by real estate funds partner Matt Posthuma and included tax partner Kristen Chang Winckler, ERISA partner Bill Jewett, asset management associate tax associate Denise Sohn.