Fundraising - APRIL 12, 2017

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Exeter holds $1.27b final close for industrial fund

by Jody Barhanovich

Exeter Property Group has held a $1.275 billion final close for its Exeter Industrial Value Fund IV, reaching its equity hard cap.

Exeter Industrial Value Fund IV will target investments in industrial assets in primary U.S. warehouse markets, mainly in San Francisco, Chicago, Dallas, South Florida, Indianapolis and Washington, D.C. Around 50 percent of the capital will be invested in “big box” logistics warehouses, with another 40 percent in “last mile” assets and the rest in light manufacturing properties.

During its fundraising, the value-added fund received equity commitments from multiple investors, including the $109.7 billion New York State Teachers' Retirement System, which previously committed $100 million to the fund’s predecessor, Exeter Industrial Value Fund III, in 2013, and $50 million to the first fund in the series, Exeter Industrial Value Fund; the $2.7 b

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