Heitman Raises $2.6 Billion for Value-Add Investment Series

HVP VI marks the largest closed-end fundraise in the firm’s history

CHICAGO--(BUSINESS WIRE)--Heitman LLC (“Heitman”), a global real estate investment management firm, today announced the final close of Heitman Value Partners Fund VI (“HVP VI” or “the fund”). The fund received commitments totaling $2 billion, which exceeded its $1.75 billion target size and reached the fund’s hard cap, making it the firm’s largest closed-end fundraise to date. Investors also committed an additional $620 million of co-investment capital to the fund, which when combined with estimated leverage, should provide Heitman with $6.55 billion in capital to deploy to assemble the fund’s portfolio over the next few years. The fund secured commitments from its most diverse investor base to-date, attracting commitments from more than 30 investors across seven countries.

HVP VI’s strategy seeks to deliver an overall return of 12%-14% net of fees and costs through a diversified approach that combines delinked, growth-oriented, and contrarian investment opportunities. The strategy focuses on demographically driven, less cyclical alternative sectors, including medical office, student housing, senior housing, and self-storage, complemented by traditional growth sectors such as apartments and industrial.

“We are pleased to announce the final close of HVP VI and are grateful for the confidence and trust our new and existing investors place in us,” said Maury Tognarelli, Heitman CEO. “We view this phase of the cycle as an attractive entry point. Strategies underpinned by secular trends that generate returns from a combination of income and value creation opportunities continue to remain compelling.”

“In a period of continued market dislocation, investors are increasingly looking for partners with deep experience and cycle-tested strategies,” said Mike Trench, Executive Vice President and Co-Portfolio Manager of Heitman’s value series. “HVP VI is designed to capitalize on the resilience of non-correlated sectors and the emerging opportunities created by today’s capital markets environment.”

Heitman brings more than three decades of value-add investing experience. Since 2004, Heitman has deployed five value-add funds in North America, representing $12.5 billion in gross cost and $4.5 billion in equity commitments across 103 investments. The HVP series is supported by the firm’s substantial resources, including a robust in-house global research platform that informs investment selection and market insights.

ABOUT HEITMAN:

Heitman is a global real estate investment management firm with $48 billion in assets under management as of September 30, 2025. Founded in 1966 and globally headquartered in Chicago, with European headquarters in London, Heitman has 11 offices worldwide and is an active participant in the global real estate property and capital markets. Heitman makes real estate investments through private equity, debt, and publicly traded real estate securities.