Real Estate - DECEMBER 6, 2019

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HNWIs invest in Venture One Real Estate and Kovitz Investment fund

by Kali Persall

Chicago-based Venture One Real Estate and its local co-sponsor Kovitz Investment have closed fundraising for their fifth industrial fund, VK Industrial V.

The fund, which was seeking $100 million in capital commitments as of August, closed with $112 million, according to Real Estate Alert. The majority of capital comes from high-net-worth individuals who had backed the previous funds in the fund series, all of which are fully invested.

The investment vehicle will look to acquire warehouses, distribution centers, manufacturing facilities and flex space in Chicago and New Jersey. Deals range from about $2 million to $50 million; however, the fund will have the option to form joint ventures for larger transactions. With leverage, VK Industrial 5 could deploy up to $350 million.

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