Time Equities Securities LLC (TES), owned by Time Equities Inc. (TEI), announced the closing of its fifth diversified income and opportunity Fund (Fund V), raising $63.6 million.
TEI Diversified Income & Opportunity Fund V, which opened to investments in March 2020, deployed capital to acquire partial interests alongside TEI’s core capital in a diversified portfolio of income-producing assets with potential for appreciation throughout the United States and Europe.
“These past two years were challenging with all of the unknowns related to the COVID-19 pandemic. I am proud [of] how we kept our calm, carefully navigated the uncertainty surrounding the investment climate and continue our consistent capital raising efforts. We added new asset classes where we saw significant discounts and liquidity, such as B Notes and Preferred REIT Stock, as well expanding our European footprint with lease-up and repositioning potential. In the US, we continue to be cautious of certain overheated markets and sought out value add acquisitions with good basis that complement the diversification of our existing portfolio and commitment to our investment partners,” said David Becker, registered representative for TES and managing director for TEI’s Equity Division.
Throughout 2021, TEI closed over $113 million of 1031 and 1033 tax deferred exchanges, including a ground lease under TEI’s 1000 South Michigan Avenue (1000M) development project, a 73-story, Class A rental tower that will add 738 luxury rental apartments to the downtown Chicago marketplace.
To date, Fund V has acquired ownership interests in 17 assets across 8 U.S. states and 3 European countries, representing TEI’s investment approach to acquire a portfolio of diversified, income-producing assets with potential for appreciation.
Highlighted acquisitions include: Inshes Retail Center, a 158,814-square-foot retail park located in Inverness, Scotland for €16,300,000 ($21,002,000); Wolters Kluwer Campus, a 146,772-square-foot, three-building office complex in Deventer, Netherlands for €7.25 Million ($8,604,312) and The Brix at Midtown, a 287-unit, Class-A multifamily property located in Grand Rapids, Michigan for $68.25 million.
Time Equities Inc. intends on launching its next Fund offerings commencing in the first quarter of 2022.
