TH Real Estate holds $330m final close for U.S. industrial fund

TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), has held a final close for TH Real Estate U.S. Strategic Industrial Fund I, with a total capital raise exceeding $330 million. Including leverage, the equity commitments will allow the fund to target a portfolio of approximately $1 billion.

The fund seeks to acquire and develop bulk and light industrial assets in major U.S. industrial markets including last-mile locations that serve as a cornerstone of e-commerce supply chains. The fund focuses on properties in these top industrial markets that can be repositioned to generate higher occupancies and rent, as well as re-development opportunities and traditional warehouse and logistics facilities.

“While the traditional port-driven warehouse markets continue to grow at a consistent pace, online commerce is accelerating demand for state-of-the-a