VK Industrial V, the fifth value-add industrial fund co-sponsored by Venture One Real Estate and Kovitz Investment, is seeking up to $100 million in capital commitments.
The fund will look to acquire warehouses, distribution centers, manufacturing facilities and flex space in Chicago and New Jersey. Venture One entered the New Jersey market this year when it opened an office in Saddle Brook.
Investments will range from $2 million to $50 million; however, they could also include larger investments made via joint ventures.
The fund will invest on behalf of high-net-worth individuals and public pension funds, similar to its predecessor, VK Industrial IV, which raised $76 million against its target of $100 million and closed in December 2017.