Velocis Partners closes core-plus fund with $135 million
Dallas-based Velocis Partners has announced a $135 million final close of its first real estate fund, Velocis Fund I. The fund will invest with a core-plus strategy in medical office, office and retail properties throughout the United States.
Velocis Fund I launched in 2010 with a $150 million soft target fundraising goal. Though the fund has held its final close, Velocis will be continuing to raise equity through co-investment vehicles.
Specific investors in the fund were not disclosed, but target investors include high-net-worth individuals and family offices in the United States, Mexico and Europe. The fund has already acquired eight assets, including two office buildings in Houston, a medical office building and two shopping centers in Austin, a medical office building and shopping center in Fort Worth, and an office building in Denver.