Cabot Properties is planning a $1bn (€843.9m) capital raise for its third US core industrial real estate fund, according to an investor.
The Teachers’ Retirement System of Louisiana said in a meeting document that it has approved a $50m commitment to the Cabot Industrial Core Fund III fund.
Cabot raised $693m for its second fund in 2018 and $443m in 2016 for its first fund.
The latest fund, which will have a leverage of up to 40%, will acquire stabilised, highly occupied and Class A industrial assets across the US.
Cabot intends to pursue investments located in markets that represent major population centres and distribution hubs, focusing on submarkets that provide connectivity between inventories and the end consumer.
It’s expected that the total number of investments in the fund will be somewhere between 30 and 40 transactions.
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