Dallas, Texas (PRWEB) July 02, 2014
Cypress Equities Real Estate Investment Management (CEREIM), an affiliate of Cypress Equities, today announced the final close of its Cypress Acquisition Partners Retail Fund, L.P. (CAPRF). CAPRF is exclusively focused on acquiring value-add retail real estate and is comprised of a diverse investor base, including public and corporate pensions; sovereign wealth funds; endowments; foundations; family offices; and fund of funds investors.
Launched in June 2012, CAPRF held a first closing on May 31, 2013, with the goal of raising $300 million. Based upon stronger-than-anticipated investor demand, CAPRF increased its limit to $400 million and reached that hard cap on June 20, 2014. CEREIM has acquired more than $700 million in assets, including Lloyd Center in Portland, Oregon; Eden Prairie Center in Eden Prairie (Minneapolis), Minnesota; Brookwood Village in Birmingham, Alabama; The Streets of Woodfield in Schaumburg (Chicago), Illinois; and Glendale Marketplace in Glendale (Los Angeles), California; among others.
“Our team is very grateful to have received such solid support from our limited partners in this fundraise and we sincerely thank them,” said Todd Minnis, chief investment officer for Cypress Equities Real Estate Investment Management. “We believe that our team’s experience and reputation, combined with the strength and potential of well-located retail assets, contributed to the successful fundraise completed by CAPRF.”
CEREIM’s placement agent for CAPRF was Credit Suisse. Greenberg Traurig LLP served as its legal counsel.
About Cypress Equities
Cypress Equities* (Cypress) was founded in 1995 and has since established a national reputation synonymous with the premier development, operation and management of destination-class retail and mixed-use properties throughout the U.S. Historically, Cypress has developed or acquired more than 18 million square feet and currently is developing and managing a portfolio of more than 9.4 million square feet of retail, office, residential and automotive real estate. Today, there are five Cypress Equities offices throughout the U.S., including Dallas (headquarters), New York, San Francisco, Atlanta and Fort Lauderdale. Please visit http://www.cypressequities.com for more information.