Cabot Properties, the Boston-based private equity real estate investment firm, has held a final close for its fifth value-add fund, Cabot Industrial Value Fund V, exceeding its $700 million fundraising target.
With fundraising complete, Cabot is seeking to invest nearly $2 billion in the industrial property market throughout the United States, Canada and Europe.
Similar to the fund’s predecessors, Cabot Industrial Value Fund V will target the acquisition, development, redevelopment, operating, leasing and selling of industrial properties.
Cabot believes that the fundamentals in the industrial sector continue to be very strong, said Franz Colloredo-Mansfeld, Cabot’s CEO.
Most of the fund’s investors came from returning investors, including the Pennsylvania Public School Employees’ Retirement System, which committed $100 million in August 2016, and the Regents of the University of Michigan, which committed $50 million in October 2016. The fund also
