High Street holds $350m final close
High Street Real Estate Fund V, managed by High Street Realty Co., has held its final close, reaching its hard cap with total equity commitments of $353 million.
Using targeted leverage of 50 percent, the fund will seek to acquire approximately $700 million of assets in its target markets.
High Street Realty Co. formed the fund to continue its strategy of acquiring smaller warehouse distribution assets in the eastern two-thirds of the United States, with a specific focus on class A and class B infill properties fulfilling regional and “last mile” logistics requirements for its tenants.
The fund targets primary distribution markets, including Chicago, Northern New Jersey, Central Pennsylvania, Atlanta, Florida and Texas.
The fund attracted capital from existing investors and several new top-tier, institutional investor relationships. Investors in the fund include insurance companies, public and corporate pension funds, foundations, and other institutio