Apr 07. 13:26
PIMCO Registers the PIMCO Flexible Real Estate Income Fund
On 2/7/22, PIMCO registered the PIMCO Flexible Real Estate Income Fund (the "Fund"), bringing PIMCO's total interval funds (either active or in registration) to 5. To date, the only other manager with more active interval funds under management is Stone Ridge.
The Fund's primary objective is to provide current income with a secondary focus on long-term capital appreciation, by acquiring income-oriented commercial real estate, primarily here in the U.S., as well as debt secured by commercial real estate.
The Fund is PIMCO's first real estate-focused interval fund, joining managers like Fundrise, Griffin, and Bluerock in making commercial real estate accessible to retail investors.
The Fund expects to offer an institutional share class with a minimum investment of $1 million, as well as 4 additional share classes. Notably, while interval funds commonly elect to be taxed as Registered Investment Companies, the Fund expected to qualify as a REIT for taxation purposes.
PIMCO, based in Newport Beach, CA, manages products spanning fixed income, equities, alternative investments, ESG funds, ETFs, and interval funds with over $2.2 trillion under management.
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