The Carlyle Group has announced that it has raised $3 billion (c. €2.04bn) for its fifth U.S. real estate fund, Carlyle Realty Partners V. The Carlyle Real Estate team makes opportunistic investments in the United States in the office, hotel, industrial, retail, residential and senior living sectors.
Carlyle has a broad-based real estate investing platform, with more than 70 employees. The team makes value-oriented investments in every real estate sector in the U.S.
"We are disciplined and patient," said Robert G. Stuckey, head of Carlyle's US Real Estate Team. "We are pleased to have available capital in this environment. While the capital markets are experiencing turbulence, we remain focused on sectors and markets in which real estate fundamentals are poised to improve. We are hoping to make investments in instances where the capital markets are under-pricing the fundamental value of the properties that we are trying to buy."
Carlyle focuses on major markets such as New York City, Washington, San Francisco and Southern California. In its first four funds, Carlyle has acquired assets with total capitalization of approximately $15 billion.
Selected Past and Current Investments in Carlyle Real Estate Funds:
- One Wilshire, a 30-story tower in Los Angeles
- 14 Wall Street, a 37-story tower in Downtown Manhattan
- Metropolitan Tower, an 18-story building in Midtown Manhattan
- 2900 K Street, a 135,000-ft² building in Washington, DC
- Manhattan Beach Studios, a 570,000-ft² complex in Manhattan Beach, CA
- 180 Montgomery, a 300,000-ft² building in San Francisco
- 8th Avenue Hotels, two properties containing 668 rooms in Midtown Manhattan
- Chicago Downtown Marriott, a 1,192-room hotel in Chicago
- Pasadena Hilton, a 296-room hotel in Pasadena, CA
- Riverside South, 4.4 million-ft² land development on the Upper West Side of Manhattan
- The Orion, a 60-story, 550-unit condominium development in Midtown Manhattan
- Clarendon 1021, a 420-unit condominium building in Arlington, VA
- Chelsea Senior Living Portfolio, a seven-property 629-unit portfolio in New Jersey
- Sunrise of Westlake Village, an 85-unit senior living development in Westlake Village, CA
- Huntington Terrace, a 191-unit senior living property in Melville, NY
Carlyle Realty has five offices located in Washington, DC; Newport Beach, California; New York City; Denver; and Los Angeles.