Red Rock Developments has collected $193.3 million for its Red Rock Industrial Fund I, according to a recent filing with the SEC.
The $50 million GP fund held an initial closing in April 2020. The firm said through LP investments and debt, the fund can develop, acquire and redevelop up to $1.25 billion in industrial assets.
Red Rock Industrial Fund I is designed to take advantage of the disruption in the market caused by the emerging ecommerce business and company supply-chain logistics being revamped.
Red Rock Developments is a privately held real estate development and investment company headquartered in Columbia, S.C. At the time of the initial closing, the firm had 18 million square feet of class A industrial space. The firm’s areas of expertise include build-to-suit/lease, speculative development and industrial park/land development.
