Westbrook fund holds first close

Westbrook Partners has raised $693 million for its Westbrook Real Estate Fund X from eight existing limited partners, according to an SEC filing. The value-added fund launched in June 2014.

According to IREI’s FundTracker Database, the fund held a first close on Jan. 15. The firm will be hosting monthly closes before its final close in September 2015. Westbrook declined to comment on its fundraising efforts.

The fund targets office, hotel, residential land, industrial and retail assets in select coastal markets in the United States, such as Boston, Los Angeles, New York City, San Francisco and Washington, D.C., as well as global gateway cities such as Berlin, Frankfurt, London, Munich, Paris and Tokyo. It follows the same strategy as its previous funds, a continuation of the series’ strategy during the past 15