By Mark Heschmeyer
Companies and funds reported raising $35.48 billion from investors in the second quarter for real estate-related deals and refinancings. The amount of funding raised brings the total inflow for the first six months of the year to more than $66.43 billion from approximately 1,075 funds and firms. It took nine months to raise the same amount last year. CoStar Group tracks the fundraising activity of almost 3,000 entities on an ongoing basis and adds about 125 new entities per month. Of the money raised in the second quarter, about $5.42 billion was to be used primarily to repay debt, while about $30.5 billion was primarily targeted for investments and acquisitions. Of that amount, approximately 18% or about $5.49 billion was earmarked for non-property-related investments, including debt, mortgage or securities purchases. That leaves approximately $25 billion of the money raised available for property investments. Of the total amount raised in the second quarter, $17.22 billion was from publicly offered shares in REITs and real estate operating companies with more than $5.55 billion specifically to be used debt repayment or refinancing. The other $18.54 billion raised in the second quarter came from private fund raising efforts and is all earmarked for new investment. Of that amount, pooled investment funds including private equity and hedge funds raised $9.96 billion. The highest percentage of funds raised (approximately 22%) was earmarked primarily for hospitality-related investments. Funds targeting debt and mortgages raised about 15% of the total. Office-, multifamily-, health care- and industrial-related amounts each accounted for about 10% to 13% of the totals.
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