Berkeley Partners raises $223.2m for real estate fund

Berkeley Partners has raised $223.2 million for IC Berkeley Partners IV, according to a filing with the SEC.

IC Berkeley Partners IV, which opened in April 2016, is a value-added real estate fund that will invest in warehouse properties throughout the United States. The firm seeks to raise a maximum of $300 million in equity commitments for its fourth fund.

The fund’s predecessor, IC Berkeley Partners III, held a $125 million final close in 2014.

Berkeley Partners and its affiliated entities currently own and operate over 5 million square feet of light industrial real estate in U.S. cities and submarkets, some of which include the Peach Tree Corporate Center in Atlanta, a two-property portfolio in Salt Lake City, and a light-industrial portfolio in Austin.