ACORE Capital closes $1.1 billion real estate credit fund

ACORE Capital has closed its second opportunistic commercial real estate credit fund, ACORE Opportunistic Credit II (AOC II), with $1.1 billion in investor commitments. The final amount exceeded the firm’s initial $1 billion target and is more than four times the size of its predecessor fund.

The New York-based investment manager has already committed approximately $400 million across 14 transactions. The fund aims to capitalize on current market conditions, such as property refinancing challenges, higher borrowing costs, and lower valuations, by providing credit for business plans based on adjusted property values.

ACORE reported managing more than $17 billion in assets as of June 30, 2026. The firm intends to use the fund to seek returns that are competitive with equity investments while maintaining a more senior position in the capital structure.