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Sign in Sign up for a FREE subscriptionCapRock Partners completes final close of Industrial Value-Add Fund III
California-based CapRock Partners has completed a final close of CapRock Partners Industrial Value-Add Fund III, the firm’s fifth fund overall, with $250 million in capital commitments.
CapRock Partners Industrial Value-Add Fund III was oversubscribed, exceeding its original target of $200 million and drew in an unknown number of co-investment commitments. The U.S. institutional investor base included pension funds, endowments, funds of funds, high-net-worth investors and family offices.
“Right as we held our initial close in February, the first COVID-19 wave hit the U.S., causing the entire real estate sector to stop in its tracks and assess the impact of this black swan event,” said Jon Pharris, president of CapRock Partners. “Despite the tragedy of this pandemic and its impact on the overall U.S. economy, COVID-19 resulted in increased investor demand for the industrial sector.”
He added, “It is a testament to our prudent investment approach, stro
