Harrison Street Real Estate Fund
VCMIX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Mortimer J. Buckley
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Vanguard Blvd. Denver CO United States of America 19355
- IPO Date
- Jul 9, 2012
- CIK
- 0001515001
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Versus Capital Real Estate Fund LLC (VCMIX) is a non-diversified, closed-end interval fund registered under the Investment Company Act of 1940 that operates as a core real estate holding for investors seeking consistent current income, capital preservation, and long-term capital appreciation. The Fund pursues these objectives by investing at least 80% of its net assets, plus any borrowings for investment purposes, in Real Estate-Related Investments, including third-party private funds focused on real estate equity and debt secured by real estate (such as private core funds at 28.5%, private core-plus funds at 42.3%, private foreign core funds at 7.2%, and private debt funds at 3.3%), as well as domestic and international public real estate equity securities like REIT common and preferred stocks (16.8%), public real estate debt, and cash equivalents (2.0%). These investments span property sectors including industrial (37.3%), multifamily (20.7%), office (7.8%), medical/life sciences (9.2%), data centers (5.6%), and others, with geographic exposure across U.S. regions (East 25.2%, West 37.1%, South 20.5%, Midwest 7.0%) and international markets in Europe (6.5%) and Asia-Pacific (3.7%). Key holdings include CBRE US Logistics Partners (11.64%), Clarion Lion Properties Fund (8.62%), Invesco Core Real Estate USA (7.68%), Heitman America Real Estate LP (5.90%), and Everwest Funds Advisors LLC (5.83%), among others, providing diversified access to institutional private and public real estate managers across logistics, multifamily, industrial, and life sciences sectors. The Fund, with approximately $1.81 billion in assets under management and a net expense ratio of 1.38%, makes quarterly repurchase offers of 5% to 25% of outstanding shares and distributes income quarterly, targeting fiduciary advisors and high-net-worth investors requiring limited liquidity beyond repurchase policy provisions. Founded in 2011 with active investments commencing July 9, 2012, and headquartered at 5050 S. Syracuse Street, Suite 1100, Denver, Colorado 80237, the Fund is advised by Versus Capital Advisors LLC, which was rebranded as Harrison Street Private Wealth in 2025 to enhance access to innovative investment solutions. In a significant recent development, effective July 29, 2024, the Fund changed its name from Versus Capital Multi-Manager Real Estate Income Fund LLC to Versus Capital Real Estate Fund LLC, reflecting strategic evolution under updated prospectus dated March 11, 2025; it is distributed by Foreside Funds Distributors LLC with no reported recent acquisitions, funding rounds, or new product launches. Portfolio managers include Chief Investment Officer Casey Frazier (industry start 2003), Head of Real Estate Dave Truex (2007), and Director of Investments Kevin Nagy (2013), overseeing a strategy leveraging institutional-scale gross asset value exceeding $142 billion across 1,717 investments with weighted average occupancy of 91.86% and leverage of 33.71%.