Dermody Properties has closed its third commingled fund, the Dermody Properties Industrial Fund III (DPIF III), with $1.1 billion in capital commitments.
DPIF III exceeded its target fundraising goal of $800 million and was backed by public and corporate pension funds, insurance companies and other institutional investors.
Dermody said nearly all the first and second fund investors also re-upped in DPIF III, which also picked up a significant number of new investors.
“We are very pleased about our fundraising success for DPIF III and the retention of our strong institutional partners from DPIF I and II, as well as expanding our base of like-minded investors,” said Kathleen Briscoe, partner and chief capital officer at Dermody Properties. “We believe we can provide excellent investment opportunities for all of our global investors due to Dermody Properties’ proven strategic approach to logistics real estate and the strong team we have implementing those s
