Privately held real estate development and investment firm CRG has raised $300 million for its latest industrial real estate fund, which is expected to deliver $1.5 billion in new warehouse and distribution facilities for e-commerce users across key US markets over the next two years.

The fund launched in August 2021 and reached its cap three months ahead of schedule, CRG said in a statement. The firm expects the fund's co-investment vehicles to provide an additional $150 million of equity. More than 100 private investors ranging from family offices to wealth managers to high-net-worth individuals contributed to the fund. The fund also received 10% of its total investment from diverse investors.

"We're thrilled with the success we've had raising from non-institutional investors and honored to expand access to a more diverse investor base," said Shawn Clark, president of CRG. "USLF II investors benefit from CRG's national platform and proprietary deal flow consisting of well-located, high-quality warehouse and distribution developments in core markets where supply-demand fundamentals remain strong."