Cabot Industrial Value Fund VII locks in $1.3b of equity commitments

Cabot Industrial Value Fund VII, a closed-end, value-add fund managed by Cabot Properties, has raised more than $1.3 billion in equity commitments, according to a May 1 filing with the SEC.

Cabot Industrial Value Fund VII launched in 2022 and has a target size of $1.5 billion, according to a meeting document from Pennsylvania Public School Employees' Retirement System, which committed $175 million to the industrial fund in August 2022.

The fund’s investment strategy is to build and acquire midsize, multitenant industrial warehouses near urban areas that have large, dense populations with high average incomes, low unemployment rates, a steady labor force and transportation infrastructure. Cabot plans to invest primarily in North American