Berkeley Partners, a private equity real estate investment manager focused exclusively on light industrial assets, has reached final close on the Berkeley Partners Value Industrial Fund VI, L.P. Including associated sidecar capital, the fund raised a total of $610.5 million in equity commitments, exceeding its original $500 million target.
Fund VI is a closed-end, commingled, value-add vehicle that invests in infill light industrial properties across select U.S. markets. As the latest in Berkeley’s commingled value-add fund series, Fund VI represents a continuation of the firm’s strategy of targeting supply-constrained, demand-driven markets where smaller-bay infill industrial product is essential to tenants and local economies.
Aaron Snegg, Berkeley founding partner, said the support of the firm’s limited partners “reflects the confidence we’ve earned through our disciplined investment thesis, our track record in the light industrial sector and the long-term relationships we have built with our investors.”
The fund is already more than 30% called, with the investment team having assembled a portfolio of seed assets during the fundraise.
Pictured: A Berkeley Partners industrial property in San Antonio.
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