Exeter Property markets industrial fund
Exeter Property Group has begun marketing its third industrial fund, Exeter Industrial Value Fund III, which seeks out opportunities through acquisitions and development of large and multi-tenant logistic facilities through the United States. The value-added fund has a $675 million fundraising target. Recent investors include the Ohio Police & Fire Pension Fund, which approved a $50 million commitment at its Nov. 20 meeting, and the San Antonio Fire & Police Pension Fund invested $15 million at its Sept. 25 meeting. Both were follow-on investments. The previous fund in the series, Exeter Industrial Value Fund II, closed in June 2012 with $615 million equity commitments. The vehicle targets value-added investments in industrial, flex and business park properties and first mortgages against such properties throughout major markets in the eastern, central and southern United States.