CRG, a privately held national real estate development and investment firm, has wrapped up fundraising for its U.S. Logistics Fund II (USLF II), reaching its $300 million hard cap three months ahead of schedule. Co-investment vehicles are expected to provide an additional $150 million of equity.
The capital raise was backed by more than 100 private investors ranging from family offices and wealth managers to high-net-worth individuals. In addition, USLF II garnered 10 percent of its investments from diverse investors via strategic outreach to women and persons of color.
USLF II and its co-investment vehicles are expected to deliver $1.5 billion of new state-of-the-art warehouse and distribution industrial facilities across key U.S. logistics markets during the next two years.
“Over the past decade, the industrial real estate market has boomed and offered institutional investors tremendous returns,” said Ben Harris, head of investor relations for CRG. “Howe