Al. Neyer Industrial Fund I, the first real estate investment fund managed by commercial real estate development and design-build firm Al. Neyer, has closed with $110 million in equity commitments. The vehicle surpassed its fundraising target of $100 million.
Fund I will develop some $300 million of class A industrial projects, with a focus on bulk product, rear-load and single-load product, and last-mile industrial. The developments will be located within its four growth markets — Cincinnati, Pittsburgh, Nashville and Raleigh — but will also include markets within 300 miles of its existing footprint.
“Ecommerce is growing at an explosive rate, and reshoring is bringing manufacturing back to the U.S.,” said Jen Weingartner, vice president of capital and investor relations at Al. Neyer. “These two demand drivers have helped us identify compelling opportunities for investment in industrial real estate across our growing footprint.”
Al. Neyer said it ha
