ACORE Capital Closes $1.4B CRE Debt Fund

ACORE Capital, a commercial real estate debt manager, held the final close of its oversubscribed ACORE Credit Partners II with total equity commitments of about $1.4 billion.

The fund is the largest in San Francisco-based ACORE’s series of commercial real estate credit funds and received capital commitments from global institutional investors including U.S. pension plans, sovereign wealth funds, and endowments and foundations.

“We believe the success of this fundraise – especially in a very difficult capital raising environment – is a testament to our track record, relationships and the incredible opportunity we see to deploy capital into transitional real estate over the next few years,” said Warren de Haan, CEO of ACORE.

Since its inception in May 2015, ACORE has originated about $40 billion in loans. As of December 31, 2023, ACORE had approximately $20 billion in assets under management.

ACORE originates, acquires and manages first mortgages, B-notes, mezzanine debt and preferred equity.