Exeter fund reaches fundraising target
Exeter Property Group has raised $830.9 million for its third industrial fund, Exeter Industrial Value Fund III, according to a filing with the SEC. A final close was not disclosed, but the filing stated the fund has reached its target.
The value-added fund will target industrial assets in transactions ranging between $5 million and $20 million in primary U.S. warehouse markets such as Atlanta, Chicago, Dallas, Los Angeles, New York City and Philadelphia, as well as select Canadian markets, such as Calgary, Toronto and Vancouver.
More specifically, the fund will acquire, develop, operate and sell industrial and business park assets, focusing on big-box warehouses that lease to national consumer goods and logistics operations; multi-tenant industrial or regional/metro warehouses; and suburban office properties that typically lease to biote