JULY 20, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

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

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy