Realterm has closed its third logistics fund at a hard cap of $370 million. Realterm Logistics Fund III invests in HFT logistics real estate throughout the U.S.
ANNAPOLIS, Md., May 21, 2020 /PRNewswire/ — Realterm is pleased to announce the final close of Realterm Logistics Fund III (RLF III) at its hard cap of $370 million. The offering was oversubscribed on the back of strong investor demand. RLF III is the tenth fund raised across the Realterm platform.
Ed Brickley, Managing Director and Senior Fund Manager for the Realterm Logistics Fund series, commented, “We are grateful for the strong institutional support from our longstanding Realterm partners and are excited to welcome several new investors into the partnership. Our investment and asset management teams have deep experience operating through cycles, and we are eager to bring our financial and operational expertise to bear during this current market dislocation.”
As with its predecessor funds, RLF III is a closed-end, value-added fund, which invests into HFT logistics real estate throughout the U.S. Strategically located in and around major population centers, primary distribution hubs and along major freight corridors, HFT properties facilitate the movement, not the storage, of freight through the nation’s supply chains. HFT property types include cross-dock truck terminals, transload and related trans-shipment, air cargo, parcel sortation, and final mile delivery facilities, among others.
“The effect of e-commerce on customers’ delivery expectations and retailers’ delivery promises has been a profound global phenomenon. COVID-19’s effect will accelerate the rate of change in e-commerce penetration that Realterm had previously recognized as a 20-year-plus tailwind for our business,” said Bob Fordi, Realterm’s CEO. “The isolation dynamic from the pandemic has accelerated this direct-to-consumer delivery shift.”
Realterm is a vertically-integrated real estate operator with a 30-year track record of executing niche private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $5.6 billion in assets across five logistics-oriented private equity real estate fund series: Realterm Airport Logistics Properties (RALP), an open-end fund investing into high flow through (HFT) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series investing into HFT logistics real estate throughout Europe; and IndoSpace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.