LAFPP reups in EQT Exeter US Industrial Value-Add Fund VI
The Los Angeles Fire & Police Pensions (LAFPP) has committed $75 million to EQT Exeter US Industrial Value-Add Fund VI, a closed-end, value-add fund targeting industrial opportunities in large U.S. markets.
The vehicle launched in March with a $4.5 billion fundraising target.
As with previous funds, Fund VI will focus on acquiring, renovating, developing and leasing logistic properties in the United States.
Fund VI plans to secure 200 to 250 individual big-box warehouses, last-mile warehouses and industrial-service facilities in top markets for distribution centers and ecommerce air hubs. After the portfolio is stabilized with appropriate rental rates and long-term leases, Fund VI is expected to sell its assets to core real estate buyers through large-scale portfolio transactions.
In 2021, LAFPP committed $40 million to the Exeter Europe Logistics Value Fund I