About This Fund
Corten Real Estate Fund II LP is a value-added real estate fund managed by Corten Real Estate Partners, a private investment manager founded in 2018 and headquartered in Philadelphia, Pennsylvania, with additional offices in Wilmington, Delaware and Chevy Chase, Maryland. The fund held its first close pursuant to a Form D filing in March 2022 and completed its final close on March 28, 2024, with $283 million in combined commitments — exceeding its $250 million target. GCM Grosvenor served as the anchor investor and fully capitalized a discretionary co-investment sidecar vehicle alongside Fund II. The LP base included public pension plans, Taft-Hartley plans, foundations, endowments, and major family offices, with nearly all Fund I investors recommitting.
Corten Real Estate Fund II pursues a middle-market, value-added real estate credit and equity strategy, deploying capital across the full capital stack including joint venture equity, preferred equity, and mezzanine debt. The fund provides flexible, structured capital solutions to operating partners and sponsors executing value-added business plans across asset classes that include multifamily, hospitality, and mixed-use properties located throughout the United States. The firm's differentiated approach allows it to offer customized capital structures based on the specific needs of each operating partner, rather than applying a rigid product template.
As of Q1 2024, Corten managed over $500 million in regulatory assets across multiple vehicles, including Fund I, Fund II, separately managed accounts, and co-investment vehicles. The firm has established a strong track record of cultivating long-term relationships with both investors and operating partners. Managing Partner P.J. Yeatman and Co-Founder Chris Buccini lead the firm's investment and operations activities. Fund II's successful raise reflects strong institutional confidence in Corten's niche, flexible credit and equity strategy.