Hermes Real Estate has teamed up with a third major US real estate investment firm to launch a $250m (£158m) open-ended fund.
The group has partnered with Lionstone Investments based in Houston, Texas to buy offices in high-growth US markets.
Hermes first started investing in US assets in July 2011 through a $400m joint venture with Hampshire Real Estate that aimed to raise around $400m, including debt, to buy assets outside major city business districts with a focus on the east coast.
A second vehicle was launched with Sentinal last year to invest in multi-family residential in New York.
samantha.mcclary@estatesgazette.com
