Real estate investment manager BGO has secured $800m (€690.1m) in capital commitments for its US industrial strategies which targets properties suitable for data centre and industrial developments.
The global manager said the amount raised for its inaugural US Industrial Strategies I fund, includes a $260m contribution from its Data Center Co-Investment vehicle.
The US Industrial Strategies I fund was backed by nine domestic institutional investors pension funds, insurers and high-net-worth capital. The separate data centre co-investment vehicle attracted nine additional investors, including three international commitments: two from Canada and one from Switzerland.
The strategies hold a portfolio of eight industrial projects, developed in collaboration with NorthPoint Development, BGO said, adding that the fund is now fully committed. In total, the manager targets a gross asset value of $2.43bn for the combined strategies.
The portfolio, which includes three properties planned for data centre development, now spans over 1,500 acres across various US markets and offers 17.1m sqft of total buildable area.
John Carrafiell, co-CEO of BGO, said: “What we’ve been able to achieve to date through Industrial Strategies I reflects growing investor conviction in BGO’s ability to deliver the next generation of state-of-the-art digital infrastructure, and state-of-the-art, power-hungry logistics facilities.
“By combining institutional real estate expertise with deep utility-grade energy insight, we’re creating three shovel-ready powered sites with access to critical infrastructure—substations, transmission lines, and fibre networks. In today’s power-constrained environment, our data science-driven approach enables us to identify and deliver precisely what hyperscale users need—at scale, speed, and certainty.”
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