Fiera Real Estate UK has announced the second close of its Logistics Development Fund, having raised £225 million ($281 million) in commitments to date. The fund is seeking £300 million ($375 million) of equity from investors.
An affiliate of global investment manager Fiera Capital Corporation, Fiera launched the Logistics Development Fund in July 2022 to capitalize on occupier and investor demand for logistics real estate.
The fund seeks development sites of more than two acres with capability for small-to-mid box logistics developments of up to 250,000 square feet. Sites must be near good transport links and within 45 minutes of a 1 million catchment population.
The fund has amassed a portfolio of five assets to date, which will total 400,000 square feet of ESG exemplar, class-A logistics floorspace across 18 units when construction is complete. The fund has a pipeline of five more sites under offer and is actively seeking additional opportunities.
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