Faropoint Closes Flagship Urban Industrial Value Fund III with $915 Million, Exceeding Target Fund Size and Attracting Top-Tier Global Investors
27 June 2024 - 11:03PM
Business Wire
Fundraising Efforts Reinforce Faropoint as US
Industrial Real Estate Leader
Faropoint, a leading tech-enabled, US industrial real estate
investment manager, announces the final close of its flagship
Industrial Value Fund III with $915 million in commitments,
exceeding its $750 million target.
The fund has secured investments from premier institutions
across North America, Europe, and the Middle East, including public
pension plans and insurance firms, underscoring Faropoint's strong
market reputation and track record. This successful fundraise
follows the prior successes of Faropoint's Value Funds I and II,
which pursued a similar strategy of aggregating institutionally
inaccessible assets to achieve a premium through a portfolio
sale.
To date, Fund III has acquired over 80 urban industrial
warehouses across 12 US markets, and aims to acquire more than 200
warehouses throughout its deployment period. With transactions
averaging under $10 million, the Fund is diversifying its assets
across different markets, sectors, tenants, vintages, and build
types to optimize portfolio composition.
"Exceeding our fundraising target for Industrial Value Fund III
is a testament to the confidence our investors have in our strategy
and execution capabilities," said Adir Levitas, CEO of Faropoint.
"Our focus on urban logistics and our ability to capitalize on
off-market opportunities, combined with our advanced data and
machine learning tools, uniquely positions us to optimize
risk-adjusted returns."
"Despite a challenging fundraising environment, the successful
closing of Fund III marks a significant milestone for Faropoint,"
added Raz Rahamim, Global Head of Capital Development and Investor
Relations of Faropoint. "Our unique strategy and resilient asset
class have attracted significant investor commitments from multiple
continents, validating our investment approach and operational
expertise. This achievement is a testament to the dedication and
hard work of our exceptional team, whose efforts have been
instrumental in driving our success. We are excited to continue
building on this momentum and delivering exceptional results for
our investors."
As Faropoint continues to grow and expand its portfolio, the
firm remains committed to delivering exceptional value and
performance to its investors through strategic acquisitions and
efficient management of industrial assets.
Threadmark Partners Limited supported the fundraising as the
global placement agent.
For more information contact Ori Regev, VP Capital Development
at ori@faropoint.com.
About Faropoint
Faropoint is a tech-enabled, vertically integrated real estate
investment manager with a focus on urban logistics in the US
industrial sector. With 120 employees, the company uses data and
deep market relationships to target inefficiencies solvable through
technology and local expertise. Operating in 16 strategic markets
across the East Coast, Midwest, Southwest, Texas, and California,
Faropoint specializes in securing off-market deals through its
extensive broker network and strong local presence. Since its
inception in 2012, Faropoint has acquired over 400 warehouses,
managing more than $2.5 billion in assets, including uncalled
commitments. For more information or acquisition inquiries, visit
Faropoint.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240626350875/en/
Investor Relations: Ori Regev Faropoint | VP, Capital
Development ori@faropoint.com