High Street Raises Over $350 Million for Core-Plus Industrial Fund
On May 1, 2017, High Street Real Estate Fund V, L.P. (the “Fund”) held its final close, reaching its hard cap with total equity commitments of $353 million. Utilizing targeted leverage of 50%, the Fund will seek to acquire approximately $700 million of assets in its target markets.
High Street Realty Company, LLC (“High Street”) formed the Fund to continue its successful strategy of acquiring smaller warehouse distribution assets in the eastern two-thirds of the United States, with a specific focus on Class A and B infill properties fulfilling regional and “last mile” logistics requirements for its tenants. The Fund targets primary distribution markets, including Chicago, Northern New Jersey, Central Pennsylvania, Atlanta, Florida and Texas.
The Fund attracted capital from existing investors and several new top-tier, institutional investor relationships. Investors in the Fund include insurance companies, public and corporate pension funds, foundations and other institutional investors from the United States and Europe.
To date, the Fund has acquired 19 assets that, in aggregate, represent approximately 34% of the Fund’s total commitments. The Fund’s investors are benefiting from the Fund’s focused strategy and High Street’s efficient execution, which allowed for the rapid deployment of a significant portion of the Fund’s capital during the fundraising period.
Accord Capital Partners LLC, along with its affiliate Accord Europe Limited, served as exclusive global capital advisor to High Street.
ABOUT HIGH STREET REALTY COMPANY, LLC
High Street Realty Company, LLC is a recognized private equity real estate investment management company focused exclusively on institutional quality industrial assets in major markets across the eastern two-thirds of the United States. With extensive expertise across all facets of real estate acquisition, finance, development, operations, disposition, portfolio and asset management, it is an experienced, institutional and hands-on operator committed to providing both outstanding service to its tenants and superior risk-adjusted returns to its investors. For further information on the High Street platform, visit: www.hsrealtyco.com/.
ABOUT ACCORD CAPITAL PARTNERS LLC
With headquarters in San Francisco and additional offices in Chicago and London, Accord Group Holdings LLC (“Accord”) harnesses a powerful combination of capital markets, investment management and principal investment capabilities for a wide variety of participants in the real estate private equity industry globally. Through Accord Capital Partners LLC, its broker/dealer affiliate in the United States, Accord provides advisory and capital raising services to its clients. For further information on Accord, visit: www.accord-group.net.