The UK arm of Fiera Real Estate has so far raised £225m for its logistics development fund.
Fiera Real Estate UK said total capital commitments received for Logistics Development Fund at its second close have now exceeded £225m (€261.5m).
The fund received capital commitments from a mixture of local government pension schemes and pension funds from the US, Europe and Asia together with proprietary co-investment, the manager said.
The Logistics Development Fund was launched in July last year with an initial £170m of commitments.
Fiera said the fund can leverage up to 35% taking the portfolio capacity to £350m across the two-year investment window.
The manager said the fund has a current portfolio of five assets, with a pipeline of five more sites under offer and is actively seeking additional opportunities.
Chris Button, Fiera Real Estate fund manager and head of investment management, said: “I am delighted to confirm that we have completed the second close for our logistics fund bringing the total capital commitments to over £225m.
“The recent volatility in the market has created good buying opportunities for funders like us that are well capitalised, can take planning and construction risk and can transact quickly.”
Charles Allen, the head of Europe at Fiera Real Estate, said: “Despite the capital-constrained market, we are still able to raise high volumes of capital and I am excited to harness the opportunities that the second close will allow us to capitalise on.
“Our strong track record of creating space that meets the evolving needs of our occupational customers will in turn create value for our investors.”
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