Heitman Gathers $2.6 Billion for Property Dislocation Bets

Real estate investment firm Heitman raised about $2.6 billion to take advantage of opportunities arising from the dislocation in property markets, closing its biggest-ever closed-end fund.

Heitman Value Partners Fund VI received commitments totaling $2 billion, exceeding its target size, according to a statement Tuesday. Backers committed an additional $620 million of co-investment capital to the fund, and leverage will give Heitman an estimated $6.6 billion in total to deploy.