US house prices won’t go any lower: Morse
Returns on US property assets are set to spike, says Asia veteran Robert Morse, who is tapping the region’s institutional investors for a second distressed real estate vehicle.
Having achieved an internal rate of return of 24% on its first private equity real estate fund, ROC Bridge Partners is planning a roadshow to Asia to offer a follow-up fund to local institutions and high-net-worth individuals.
The firm has a target of $500 million and has signed a feeder fund deal with Sydney-based affiliate Spire Capital.
ROC Bridge invests in rundown residential buildings in densely populated US cities. Its first closed-end fund – called ROC 1 – was launched i…
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