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.
