Industrial investment and development firm CapRock Partners has closed its latest fund at a hard cap of $250 million.
CapRock Partners Industrial Value-Add Fund III—the firm's fifth fund overall—exceeded its original target of $200 million with commitments from US-based institutional investors, high net-worth investors and family offices. It also attracted undisclosed additional co-investment commitments, the firm said.
The fund focuses on acquiring middle-market, value-add industrial properties at a price tag of between $20 million and $50 million per investment. Taken together with co-invest commitment, the fund will allow CapRock Partners to acquire between $800 million and $1 billion in industrial assets across primary markets California, Nevada, and Arizona and in secondary markets across Utah and the Pacific Northwest.
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