NorthBridge Companions has raised $500m (€413m) for its third US logistics actual property fund and has achieved its laborious cap fundraising goal.
The supervisor stated the NB Companions Fund III fund was backed by buyers together with private and non-private pensions, foundations, asset managers, household workplaces, and excessive web value people.
IPE Actual Belongings reported in January that the fund had on the time raised $300m for the fund.
Fund III’s technique is a continuation of the prior two automobiles, concentrating on strategically situated US East Coast industrial belongings which are essential to the fashionable e-commerce provide chain as corporations compete for the shortest supply occasions to shoppers, the supervisor stated.
Rob Kohn at Park Madison Companions, which served as the location agent for the fundraising stated: “We launched this fund in March 2020 proper when the pandemic struck, and because of this, the fundraising effort shifted to an virtually solely digital format.
“The success regardless of this problem is a testomony to NorthBridge’s expertise as an funding supervisor within the final-mile industrial sector and to buyers’ confidence in them as fiduciaries.”
To learn the digital version of the most recent IPE Actual Belongings journal click on here.
