BayNorth marks $472.5 million for real estate

BayNorth Capital LLC said today that it recently closed on a $472.5 million fund it plans to invest in real estate.

The fund, called BayNorth Realty Fund VII, secured capital from 40 limited partners, including endowments, pension funds, foundations, banks, and family trusts, the Boston real estate investment firm said.

BayNorth said it expects to invest in over $1.7 billion of real estate nationwide over about four years. The plan is to invest in such property types as office, residential, hotel, and retail, allocating between $15 million to $50 million per transaction, the firm said.

In 2004, BayNorth Capital was spun out of Charlesbank Capital Partners LLC, a private equity firm with offices in Boston and New York.
(By Chris Reidy, Globe staff)