Lone Star Said to Increase Real Estate Fund Target by 10%
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Shea anticipates the coming year will see a housing market that achieves some degree of stability. Were going to see a steady climb of inventory and more stable appreciation in the 5 to 10 percent range, he said. He also said he go here expects sales to remain solid despite interest rates that are rising after hitting historic lows earlier this year.
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Real estate pros to forecast market’s future
Jed Repko, a spokesman for Dallas-based Lone Star at public-relations firm Joele Frank, Wilkinson Brimmer Katcher, declined to comment on the fundraising. Lone Stars new fund is the biggest being raised for real estate private equity, according to Preqin, a London-based research firm for alternative assets. Graykens firm has produced returns exceeding 20 percent over two decades and has never had a losing fund, attracting repeat investments from investors, or limited partners, such as pension funds. The fundraising environment for real estate private-equity funds in general remains tough, particularly for first-time managers, said Forena Akthar, manager of real estate at Preqin. LPs are now placing more importance on previous track records than ever before, Akthar said. Carlyle, TPG Lone Star joins firms including Carlyle Group LP (CG) , TPG Capital and KKR & Co.
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