ACRE, a private real estate fund manager focused on U.S. housing, has closed ACRE Credit Fund II with $1 billion in capital commitments. The fully subscribed fund marks ACRE’s sixth discretionary vehicle and second dedicated credit fund.
“The success of Credit Fund II is a strong endorsement of our firm, track record and the opportunity set we see ahead,” said Daniel Jacobs, managing partner at ACRE. “We believe the current environment represents one of the most compelling backdrops for multifamily credit in over a decade, fueled by a persistent housing supply-demand imbalance, a wall of loan maturities following historic interest rate hikes and a fundamental shift in capital treatment across global banks.
“With over $4 billion in lending capacity, deep borrower relationships, and a history of disciplined execution across cycles, ACRE is exceptionally well-positioned to deploy capital into this dislocated market,” Jacobs continued.
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