Canyon Partners Surpasses $500 Million Target for its Opportunistic Real Estate Strategy
Simpson Thacher represented Canyon Partners Real Estate LLC in the formation and raising of Canyon US Real Estate Opportunity Fund (together with related entities and accounts, “CREOF”), an opportunistic real estate investment strategy that has closed with approximately $570 million of commitments, surpassing its $500 million target. CREOF pursues opportunistic real estate equity investments in commercial and residential assets across the United States, with a flexible mandate spanning asset acquisitions and recapitalizations, stressed/distressed situations, value-add repositioning, non-performing loans, and construction and mid-construction financing.
The Simpson Thacher team included Tom Wuchenich, Matthew Kemp and Jason Cernius (Funds); Jennifer Levitt, Jackson Sullivan and Eszter Boldis (Credit); and Benjamin Rippeon, Jacqueline Clinton and Benjamin Bressler (Tax).