New Mexico SIC slates $100m for EQT Exeter Industrial Value Fund VI

New Mexico State Investment Council (NMSIC) has approved a commitment of up to $100 million to EQT Exeter Industrial Value Fund VI (EIVF VI).

The closed-end, commingled fund is seeking to raise $4 billion, according to a meeting document from NMSIC.

As with previous funds, Fund VI will acquire, develop, and aggregate a portfolio of modern class A regional distribution and last-mile logistic properties in the United States. Acquisitions will primarily have concentrated or single-tenant exposure and are either partially or fully vacant requiring lease-up, or short-term leased with below-market rents requiring renewals or re-tenanting.

Fund VI will secure 200 to 250 individual big-box warehouses, last-mile warehouses and industrial service facilities in major U.S. population centers and distribution 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 la