American Real Estate Partners Closes Deal for Fund III

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American Real Estate Partners (AREP) and its joint venture partner Machine Investment Group  invested in the logistics & distribution market with a one-million square foot industrial property located in Middletown, Delaware. This is AREP’s sixth investment through its Strategic Opportunity Fund III and is now 60 % deployed.

In June, AREP announced the closing of Fund III with $63 million in equity commitments from a mix of public and private institutional investors and family offices. Fund III continues AREP’s focus on a value-add and opportunistic strategy, concentrating on data center, residential, industrial, and office assets in East Coast urban and urbanized suburban markets. Fund III’s co-investment capital is targeted to invest in $1.5 to $2 billion of total asset value, utilizing moderate financial leverage.