Fundraising - JUNE 10, 2014

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Velocis launches second fund

by Andrea Waitrovich

Velocis Fund has launched its second fund with $300 million fundraising target. Velocis Fund II will pursue office, medical office and retail properties in select U.S. growth markets, and will allow for larger asset purchases, possibly including portfolios.

Using moderate leverage of up to 65 percent, Velocis Fund II is anticipated to have purchasing power of $800 million. The fund will target financially distressed or undermanaged U.S. real estate assets in the $20 million to $70 million range where fund principals can unlock value.

Velocis Fund II is expected to acquire 25 or more properties during a three-year investment period. Potential investors include institutional investors, large family offices, and high-net-worth individuals in the United States, Mexico and Europe.

The fund launch follows the success of Velocis’ first fund, which completed its final closing in 2013 with $141 milli

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