Morgan Stanley Real Estate Investing has raised $4.7bn of equity for its latest global real estate fund.
The investment bank’s real estate group had originally been targeting $10bn of equity when it first launched the G7 fund in late 2007.
As part of its fundraising it has offered “significant” concessions to investors in two earlier funds, the $1.75bn MSREF V US and the $8bn MSREF VI International, which related to management fees, including waiving some and materially reducing others.
The new fund is looking for deals, particularly in the US, as well as Japan and Europe in reality the wohle Overseas property sector
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