$450 Million Raise: Lionstone Value Add Fund Completes

In Houston, Houston-based private equity investment firm Lionstone Investments has closed the Lionstone U.S. Value-Add Four fund after raising $450 million.

Lionstone’s value-add program was launched in 2005. Since then, the firm has invested in and advised on over $4 billion of value-add properties on behalf of university endowments, foundations, family offices, and large public and corporate pension plans.

The fund has purchased three properties beginning with the September 2015 purchase of GreenStreet, a multi-use development in downtown Houston. Also purchased were Atlanta’s Colony Square and the 110 Atrium office building in Bellevue, Wash.

“This fund prioritizes high-quality office, retail, and multi-use assets where Lionstone can create value at the property level through improvements in property occupancy and income,” said Bryan Sanchez, Lionstone’s Chief Investment Officer. “Applying our proprietary data analytics to identify attractive assets, we believe we can create outsized rental growth and property appreciation.”