TH Real Estate raised more than $330.0 million at closing for a fund focused on acquiring and developing bulk and light industrial assets in major U.S. industrial markets.
The real estate investment manager said that including leverage, the equity commitments will allow TH Real Estate U.S. Strategic Industrial Fund I LP to target a portfolio of approximately $1 billion. The fund garnered interest from institutional investors, individuals and financial advisers.
So far, the fund has bought four U.S. properties, including the 863,600-square-foot 301 Business Center industrial development project in Tampa, Fla., and the 168,425-square-foot 8575 Volta Drive industrial warehouse in Houston.
In Southern California's Inland Empire, the fund has acquired the 212,626-square-foot Empire Business Park and the 327,080-square-foot Serrano Business Park.
TH Real Estate noted that it manages about $11.2 billion of industrial properties globally.