The Logistics Real Estate Fund seeks to opportunistically acquire primarily vacant, freestanding retail buildings with the intent to convert them into Neighborhood Fulfillment Centers. The properties are intended to be leased to third-party logistics providers, e-commerce retailers, traditional retailers, and direct-to-consumer manufacturers for the purpose of distribution of consumer goods to solve the “last mile,” or more accurately the LAST HOUR(R), delivery dilemma related to both cost and time.
The fund closed with $225 million of capital commitments, which came from a diverse institutional investor base that included endowments and public pension funds.