Despite strong performance by industrial properties in recent years, investors have requested to redeem $2bn (€1.8bn) from the Clarion Partners-managed North American core industrial fund, according to industry sources.
IPE Real Assets understands that this situation reflects a broader trend in the US, where many core and core plus open-ended funds are facing redemption issues, even those focused on industrial assets.
The Clarion Lion Industrial Trust, structured as a non-listed real estate investment trust, invests in big-box distribution centres within major US industrial markets. The fund employs a dual approach, acquiring existing operational facilities and participating in the development of new properties.
Clarion did not respond to a request for comment.
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