PHILADELPHIA, Jan. 31, 2017 /PRNewswire/ -- Rubenstein Partners, L.P., a vertically-integrated real estate investment manager focused on value-added office property opportunities, announced the final closing of Rubenstein Properties Fund III, L.P. This is the third institutional real estate investment vehicle advised by Rubenstein Partners. David B. Rubenstein, Founder and Senior Managing Partner of Rubenstein Partners, made the announcement.
The discretionary real estate private equity fund raised a total of $565 million in capital commitments from a diverse group of investors, including some of the nation's preeminent public and private pension funds, university endowments and family offices.
"We're pleased to announce the final closing of Rubenstein Properties Fund III at a level surpassing the previous two funds, and positioning Fund III to take advantage of value-added office investment opportunities in its target markets," Mr. Rubenstein said. "We're grateful for the continued support from many longstanding investors and are excited to welcome several new investors into the platform."
Rubenstein Properties Fund III, L.P. seeks value-added office property investments in markets throughout the Eastern United States. Rubenstein Properties Fund II, L.P. launched in 2012 and raised $515 million of equity commitments. Rubenstein Properties Fund, L.P. launched in 2005 and raised $475 million of equity commitments.
About Rubenstein Partners
Rubenstein Partners, founded in September 2005, is a private real estate investment management and advisory firm with operations throughout the Eastern United States. The firm is led by its founder, David Rubenstein, and a group of senior real estate executives, and is focused on directing and managing value-added office real estate investments, primarily in the Eastern United States. Rubenstein Partners' predecessor company, The Rubenstein Company, LP and affiliates, founded in 1969, was one of the largest private owner operators of Class A office real estate in the Mid-Atlantic, owning and operating a portfolio of assets valued at approximately $1.2 billion at the time of its disposition in 2004. Since 2005, Rubenstein Partners, on behalf of its investors and clients, has invested in more than 15 million square feet of office real estate assets throughout the Eastern United States. For more information, visit www.rubensteinpartners.com.
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SOURCE Rubenstein Partners