---
title: "Value-add fund — Class A Atlas glossary"
description: "Closed-end fund targeting reposition and lease-up returns."
canonical: https://classa.info/glossary/value-add-fund
pageType: glossary
lastUpdated: 2026-04-01T00:00:00.000Z
license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)."
---

> Closed-end fund targeting reposition and lease-up returns.

## TL;DR

- Closed-end fund targeting reposition and lease-up returns.
- Buys Class B/B+ assets, repositions to Class A, leases up, and exits.

# Value-add fund

*Investment · Global*

## Short definition

[Closed-end fund](/glossary/closed-end-fund) targeting reposition and lease-up returns.

## Full definition

Buys [Class B](/glossary/class-b)/B+ assets, repositions to [Class A](/glossary/class-a), leases up, and exits. Target IRR 13–17% net. Higher leverage (50–65% LTV) than core.

## Why this matters for Class A leasing

Value-add fund is part of the investment vocabulary that institutional Class A occupiers, landlords, and advisers use across Global markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks regional variation alongside the global standard so [cross-border](/topics/cross-border-expansion) occupiers can translate quickly.

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Citation: Source: Class A Atlas (https://classa.info/glossary/value-add-fund), updated 2026-04-01T00:00:00.000Z.