Clifton, N.J.–based ARCTRUST, a private REIT, has raised $72.7 million for its ARCTRUST III fund, according to a recent SEC Form D filing. To date, the sponsor has received commitments from more than 500 investors as it pushes toward its fundraising goal of $100 million.
ARCTRUST and ARCTRUST III will focus on the development, acquisition, financing and joint venture of net-lease properties. The company’s geographic focus is in the New York City to Washington, D.C., corridor and Florida, although the company is also active in other metropolitan areas nationwide that have international airports. Net-lease properties are single-tenant buildings leased long term to nationally recognized tenants.
Over the past 30 years, ARCTRUST and its affiliates have been responsible for more than 500 transactions with an aggregate value in excess of $3 billion.
