Argosy Real Estate Closes 5th Fund at $472M

Argosy Real Estate Partners, a lower middle market investment manager, cllosed its Argosy Real Estate Partners V, L.P. and parallel funds with $472 million in capital commitments from new and current investors, easily exceeding its $400 million target.

Fund V is a closed-end, commingled, fully discretionary, opportunistic real estate fund focused on multifamily, single-family build-to-rent, lodging, industrial, office, retail, and residential land in the U.S.

The Argosy Real Estate Partners platform is led by David Butler and Andy Stewart, co-CEOs and managing partners.

“The pipeline of compelling investments for our high conviction strategies remains robust,” Stewart said. “We are also pursuing distressed opportunities that are emerging as a result of the current capital market dislocation.”

The firm typically seeks to invest in opportunities that require capital between $5 million and $30 million.

As of Sept. 30, the Wayne, PA-headquartered Argosy Real Estate Partners had $3.3 billion in gross value of real estate assets and unfunded equity commitments.