Velocis launches third value-add fund

Texas-based private equity real estate fund manager Velocis has launched its Velocis Fund III, according to a document filed with the SEC on Sept. 16.

An equity fundraising target was not disclosed.

Velocis aims to build a diversified portfolio of office, medical office, retail and mixed-use assets in select U.S. growth markets, according to the firm’s website. The firm focuses on demand-driven, supply-constrained markets, which include state capitals, major universities, world-class research centers, international airports and seaports.

The previous fund in the series, Velocis Fund II, closed in July 2016 with more than $270 million in equity commitments, bringing the fund’s assets under manage