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Vintage Sows $20M Seed for New Industrial Fund

DALLAS-Vintage Interests starts a second fund with equity from a local family. Two off-market deals in Greater Dallas launch the plan, with Texas metros in Vintage's sights.

By Connie Gore | Updated on July 10, 2008

[IMGCAP(1)]DALLAS-Vintage Interests LP is rolling out a second fund, backed by $20 million of equity, to acquire industrial assets in Texas. The fund’s first two properties, both in Dallas/Fort Worth, have been picked up in off-market transactions.

Rusty O. Perry, managing partner of Dallas-based Vintage Interests, says the first fund’s $20 million of equity was used to acquire $75 million of two million sf of industrial assets in Austin and Dallas/Fort Worth in 18 months. The second fund will be used to acquire properties in San Antonio and Houston too.

Perry tells GlobeSt.com that Vintage Fund II will mirror the buying habits of the first one, but is being backed by a different high-net worth family from Dallas. “Every day brings a new opportunity, but for us the key to success is our ability to move quickly. We’ve found that with private capital, and on one investor, it’s much easier because we have discretionary capital that we can move quickly on.” The strategy is to secure the deed with a 30-day inspection and a “cadre of lenders” to cover debt needs, he says.

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