Faropoint is looking to raise more capital after fetching nearly $1 billion from a funding round. This time, the Hoboken, New Jersey-based firm has launched the Industrial Sale-Leaseback ("SLB") Fund, targeting to raise $300 million, as it looks to capitalize on a long-standing strategy that as an additional appeal in a tough economic landscape.
So far, the SLB fund has generated $170 million from its initial close, which occurred in August.
The fund has acquired 12 contract properties, spanning roughly one million square feet collectively. They are located across Atlanta, Chicago, Charlotte, Northern New Jersey, and Long Island.
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