ING raises $205m for development ventures

Real Estate Weekly, Jan 18, 2006

ING Clarion announced that ING Clarion Development Ventures II (CDV II), the second of the firm's opportunistic, commingled funds, has closed with total commitments of $205 million in investment capital.

CDV II will invest in a range of property types, including multifamily, industrial, retail, office, and mixed use through new development and the repositioning of existing projects. The fund will either invest through joint venture partnerships or assume a 100 percent ownership position.

ING Clarion launched its initial opportunistic closed-end fund, Clarion Development Ventures I, in 1999. Doug Bowen, a managing director at the firm and the portfolio manager for CDV I, will also serve as portfolio manager for CDV II.