{"id":1004522723,"date":"2021-04-20T00:11:47","date_gmt":"2021-04-20T08:11:47","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004522723"},"modified":"2021-05-15T10:26:34","modified_gmt":"2021-05-15T18:26:34","slug":"al-neyer-raises-110m-with-first-fund","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/al-neyer-raises-110m-with-first-fund\/","title":{"rendered":"Al. Neyer Raises $110M With First Fund"},"content":{"rendered":"
\"AI.<\/a>

Al. Neyer industrial building planned on Elijah Creek Road and Petersburg Road in Hebron, KY. Rendering courtesy of Al. Neyer<\/em><\/p><\/div>\n

Al. Neyer has closed its first industrial real estate investment fund at $110 million, raised through 105 investors.<\/p>\n

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READ ALSO<\/strong>: Lending Across CRE Sectors: Q&A<\/a><\/p>\n

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Jen Weingartner, Al. Neyer\u2019s vice president of capital and investor relations, told Commercial Property Executive<\/em> that the Al. Neyer Industrial Fund I LLC was opened to long-term investment partners and new investors in January 2020. The fund has since closed on April 1 and surpassed its initial goal to raise $100 million. <\/p>\n

The funds will be deployed to develop approximately $300 million of Class A industrial projects that will be managed by Al. Neyer. Those projects will be mainly bulk product, rear load and single load product and last-mile industrial developments in Cincinnati, Pittsburgh, Nashville, Tenn., and Raleigh, N.C., where the company has offices. The fund will also consider markets within 300 miles of Al. Neyer\u2019s existing footprint.<\/p>\n

Weingartner told CPE <\/em>that the company is expecting to deploy all the equity in 12 to 18 months and has plans to launch additional funds once all the equity is used.<\/p>\n

Strong growth and demand<\/h2>\n

Other companies have also launched funds that focus on industrial properties in the U.S. due to the sector\u2019s growing demand. In November, RMR Group closed a $680 million investment vehicle<\/a> that would acquire industrial and logistics properties in the U.S. Earlier that year, Nuveen raised $660 million<\/a> for its U.S. Cities Industrial Fund in March 2020.<\/p>\n

For Al. Neyer, creating a real estate investment fund was something the company had been discussing for a while, Weingartner told CPE. <\/em>Prior to Al. Neyer\u2019s fund, Weingartner told CPE<\/em> that the company raised equity on a project-by-project basis. However, she attributed the creation of the fund to the growth of Al. Neyer, combined with the rising demand for e-commerce and manufacturing space.<\/p>\n

According to Weingartner, Al. Neyer\u2019s growth over the years has resulted in an industrial development pipeline that currently includes approximately 20 projects totaling a potential 12 million square feet. Weingartner also told CPE<\/em> that the fund will give investors the opportunity to invest in a diverse range of markets and industrial product types, while also letting the Al. Neyer team efficiently develop projects in certain markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funds will be deployed for industrial projects in Cincinnati, Pittsburgh, Nashville, Tenn., and Raleigh, N.C.<\/p>\n","protected":false},"author":883,"featured_media":1004528232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,23891,21742],"tags":[37633,32914,37491,33461],"class_list":["post-1004522723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-national","category-latest","tag-al-neyer","tag-e-commerce","tag-nuveen","tag-the-rmr-group"],"acf":[],"yoast_head":"\nAl. 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