Florida property magnate’s legacy firm Halstatt beats halfway mark in $125m second fundraise


miami-florida_sqFlorida-based real estate investment firm Halstatt is more than halfway to its $125m target for its second fundraise, AltAssets can reveal.

The firm has picked up about $66m of commitments for Halstatt Real Estate Partners Fund II according to a US securities filing, which shows it aims to be done with the fundraise within the next 12 months.

Some of that capital includes a commitment from the general partner, with the rest being pledged by about half a dozen LPs.

Halstatt aimed to raise $90m last time it was in the capital-seeking market in 2011, and gathered at least $35m of that according to a separate filing made at the time.

The firm, which was built on the legacy of Florida property magnate Barron G Collier, invests in commercial, residential, office and mixed-use projects.

Fund I currently has ten portfolio investments, including a mall, retail centre and golf course community.

Earlier this year the firm closed its first deal through Fund II by paying $8.9m for a trio of buildings in Lee and Collier counties.

Copyright © 2014 AltAssets

Get the latest PE News & Research delivered to your inbox every morning