Key Takeaways
- • Town Lane Management, founded by former Blackstone executive Tyler Henritze, raised $1.9bn for its second real estate fund, exceeding its fundraising target by more than 25%, according to Bloomberg.
- • The fund drew commitments from US institutional investors including endowments, foundations, family offices and pension funds, following fundraising launched in May.
- • The raise follows a $1.25bn first vehicle and targets senior housing, retail and industrial properties with investments of $50m to $300m each.
- • Town Lane is expanding into digital infrastructure via a joint venture with PowerHouse Data Centers to develop a powered data centre in North Carolina.
Summary
Town Lane Management has raised $1.9bn for its second real estate fund, exceeding its fundraising target by more than 25%, according to a report by Bloomberg. The vehicle reportedly attracted commitments from US institutional investors including endowments, foundations, family offices and pension funds, after fundraising launched in May.
The firm was founded by Tyler Henritze, who spent almost two decades at Blackstone, most recently as head of strategic investments for real estate in the Americas, where he was involved in the acquisition of QTS Realty Trust. He established Town Lane alongside his sister Parker Morse, a former Sycamore Partners executive. The firm has recruited investment professionals from TPG, Starwood Capital, Coatue Management and Blackstone as it expands its platform.
The fund follows a $1.25bn first vehicle. Town Lane reportedly plans to deploy between $50m and $300m per investment, targeting senior housing, retail and industrial properties. The raise comes amid continued dislocation in commercial real estate, where property valuations remain approximately 25% below their previous peak, according to JPMorgan Chase, reflecting higher borrowing costs and weaker office demand.
Town Lane has also reportedly expanded into digital infrastructure through a joint venture with PowerHouse Data Centers to develop a powered data centre facility in North Carolina.
The firm was founded by Tyler Henritze, who spent almost two decades at Blackstone, most recently as head of strategic investments for real estate in the Americas, where he was involved in the acquisition of QTS Realty Trust. He established Town Lane alongside his sister Parker Morse, a former Sycamore Partners executive. The firm has recruited investment professionals from TPG, Starwood Capital, Coatue Management and Blackstone as it expands its platform.
The fund follows a $1.25bn first vehicle. Town Lane reportedly plans to deploy between $50m and $300m per investment, targeting senior housing, retail and industrial properties. The raise comes amid continued dislocation in commercial real estate, where property valuations remain approximately 25% below their previous peak, according to JPMorgan Chase, reflecting higher borrowing costs and weaker office demand.
Town Lane has also reportedly expanded into digital infrastructure through a joint venture with PowerHouse Data Centers to develop a powered data centre facility in North Carolina.
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