Landmark fund holds $1.6b final close

Landmark Partners has announced its $1.6 billion final close on April 28 of its Landmark Real Estate Fund VII, exceeding its $1 billion target.

LREF VII, with its predecessor funds, continues the firm’s focus on a dedicated secondaries strategy of acquiring interests in existing funds, partnerships and other structured entities invested in underlying real estate globally. The final close of LREF VII brings the firm’s total committed capital to approximately $15 billion.

Landmark Partners estimates real estate secondary market transaction volume reached $4.8 billion in 2014, which constitutes the sixth consecutive year of record transaction volume.

The firm has started to invest LREF VII’s capital, committing $552 million across 11 transactions.

Landmark Partners closed its Landmark Real Estate Fund VI with a total of $718 million in 2011. To date, the fund has completed 24 transactions comprising 49 interests in 42 partnersh