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Velocis closes second fund

by Andrea Waitrovich

Velocis has announced the closing of its Velocis Fund II. Equity commitments exceeded $270 million, bringing Fund II assets under management to $400 million.

“In the six short years since Velocis was formed, we have raised approximately $415 million, leading to the acquisition of 21 assets across 10 markets,” said Fred Hamm, Velocis managing principal, in a statement.

The current equity commitments provide Fund II with $775 million in purchasing power, incorporating moderate leverage. Management anticipates raising an additional $50 million of co-investment equity from investors, giving Fund II approximately $920 million in purchasing power. Fund II is currently 27 percent invested and is continuously sourcing new assets for purchase.

Fund II is pursuing a value-add strategy focused on traditional office, medical office, data center and retail properties in select U.S. growth markets. The fund targets undermanaged and distressed assets in

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