Redcar Fund Administration has closed on Redcar Fund II with $418 million in fairness commitments. The fund acquires and converts underperforming industrial properties into inventive workplace belongings.
In its debut Fund 1, the corporate acquired 15 belongings which is able to complete 1.4 million sq. toes when they’re redeveloped. The entire properties in Fund I are positioned within the LA submarkets of Culver Metropolis, Santa Monica, Silver Lake, Frogtown and Chinatown — that are being pushed by the growth of content material creation studios, gaming, music, trend, and media firms resembling Amazon Studios, HBO, and Apple.
