Chicago, IL— Mesirow Institutional Real Estate Direct announced the final closing of its Mesirow Financial Real Estate Value Fund V, securing $1.245 billion in investor commitments—representing a 66% increase over its previous fund.
The firm set a hard cap on Fund V to preserve portfolio diversification and ensure disciplined deployment of capital. The fund will target multifamily assets in the top 25–30 U.S. metropolitan markets, aiming to reposition underperforming Class A properties through revenue enhancement, cost optimization, and high-quality management.
“We are proud and humbled by the continued support and confidence of our investors as we expand our platform of value-added, risk-balanced multifamily real estate strategies,” said Alasdair Cripps, Chief Executive Officer and Chief Investment Officer of Mesirow Institutional Real Estate Direct. “With Fund V, we remain focused on multifamily assets in select major US metropolitan markets, building on a platform with more than $8.5 billion in assets under management. We are especially grateful that new and existing investors have entrusted us with their capital amid ongoing market uncertainty.”
Mesirow’s strategy focuses on high-growth markets where limited new supply and strong demographic trends support long-term demand. The multifamily sector continues to attract institutional capital due to its resilience, potential for inflation protection, and stable rental income streams.
“Our investment discipline is both proven and cycle-tested,” added Cripps. “Fund V will continue our focus on repositioning underperforming Class A multifamily assets, acquired at discounts to replacement cost, in high-growth markets where barriers to entry reduce the risk of oversupply. This strategic approach has underpinned our track record of success and remains central to our value creation model.”
With the closing of Fund V, Mesirow further expands its national footprint and affirms its position as a key player in the value-added multifamily investment space. The fund is supported by a global base of institutional investors and contributes to a platform that has now surpassed $8.5 billion in assets under management.
