Mesirow Closes $1.245B Real Estate Fund, Expands Multifamily Strategy 

Mesirow Institutional Real Estate Direct has closed its Mesirow Financial Real Estate Value Fund V, raising $1.245 billion in capital commitments. The fund will focus on multifamily assets in top U.S. markets, aiming to drive asset appreciation through revenue growth, cost efficiencies, and superior property management. 

“With Fund V, we remain focused on multifamily assets in select major US metropolitan markets, building on a platform with more than $8.5 billion in assets under management,” said Alasdair Cripps, CEO and CIO of Mesirow Institutional Real Estate Direct. 

Fund V drew significant commitments from public pension systems. Investors included the Illinois Municipal Retirement Fund with $25 million and the Teachers’ Retirement System of Louisiana with $125 million. 

In February, Chicago-based Mesirow launched a Single-Asset Single-Borrower (SASB) platform to provide commercial mortgage-backed securities (CMBS) financing for transactions starting at $50 million, further expanding its real estate investment capabilities.