Opportunistic real estate investment firm Town Lane completed the final close of its inaugural fund Town Lane Real Estate Opportunities Fund I, with $1.25 billion in total commitments.
This fund was oversubscribed and closed on its investor commitments in the first half of this year above its initial $1 billion target. Fund I is backed by a diverse and esteemed group of experienced institutional investors, including university endowments, charitable foundations, family offices, and pension funds.
Town Lane was launched by 19-year Blackstone veteran Tyler Henritze and co-founded by Parker Morse, his sister, who was previously at Sycamore Partners for over a decade. Town Lane combines their respective real estate and private equity expertise by drawing on their complementary backgrounds. And the firm plans to focus on thematically oriented opportunities where real estate operating capabilities within an asset class can augment performance.
Town Lane has prioritized alignment and partnership with key stakeholders. And the fund is opportunistically focused throughout the US with a flexible mandate across commercial real estate sectors and across the capital stack, utilizing the team’s deep expertise from prior leading investment institutions. Town Lane seeks to capitalize on the current complex and dynamic real estate investment environment catalyzed by higher interest rates.
Kirkland & Ellis LLP served as legal counsel for Fund I.
KEY QUOTES:
“Within the backdrop of ongoing distress in commercial real estate, Town Lane was formed to pursue high conviction, thematically oriented opportunities leveraging the team’s 20+ years of pattern recognition and to do so within a more aligned, relationship-centric model.”
- Tyler Henritze, Founder and Managing Partner of Town Lane
“We are humbled and deeply grateful for the support we have received from our Fund I investors to date. We will be tireless in our work to reward them for the trust and belief they have shown in us.”
- Co-Founder and Chief Operating Officer Parker Morse
