LOS ANGELES - Investors in TCW Realty Fund V voted to terminate the fund as of Sept. 27.
Some 91.5% of the total vote was cast in favor of terminating the fund, according to a letter from Westmark Realty Advisors, which manages the fund.
The termination of the TCW fund means that the redemption requests already received are now ineffective, according to the letter.
Westmark Realty also will re-evaluate its exit strategy for the orderly liquidation of the fund's assets.
The gross value of the fund is $516 million; beneficiaries' capital, or the unleveraged amount, is $431 million.
There are 61 investors in the fund.
