KTB commits W550b to US real estate debt strategies

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An exterior view of a multifamily residential building in Sunnyvale, Calif. (123rf)

KTB Asset Management has closed a 550 billion won ($478.8 million) commitment to Bridge Debt Strategies Fund IV, a pooled investment vehicle mainly targeting securitized multifamily residential housing loans in the United States, the company said Tuesday.

The Seoul-based asset manager added it has attracted capital commitments from eight undisclosed South Korean institutional investors, targeting annual returns of up to 11 percent from its fund-of-funds strategy.

Bridge Debt Strategies Fund IV, managed by Salt Lake City-headquartered real estate investment house Bridge Investment Group, aims to deploy its capital to mortgage loans for multifamily housing — usually in the form of apartment buildings — and securitized instruments backed by the loans.

Of the total, half of its capital will go to multifamily mortgage-backed securities called K-Deals. The structured…

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