Real estate private-equity firm, Savanna Investment Management, has closed its second investment fund at $550 million, Bloomberg reports. The Savanna Real Estate Fund II, which is already about 40% invested, exceeded its $400 million fundraising target, adds Citybizlist Real Estate. Park Hill Real Estate Group has acted as the placement agent for Savanna. Savanna has acquired the senior mezzanine loan on a tower, 100 Wall Street, and the senior mortgage on the building, 80 Broad Street, in 2011.

Click here for the story from Bloomberg.

Click here for the additional coverage from Citybizlist Real Estate.