CapRock Closes on Logistics Venture at Nearly $700M, Above $450M Target

CapRock Partners recently announced the final closing of CapRock Logistics Venture at nearly $700 million, significantly above its initial target of $450 million. The venture represents CapRock’s first development-focused vehicle, marking an expansion of its fund business, which has traditionally focused on value-add investments.

CapRock Logistics Venture – the firm’s second oversubscribed vehicle to close in 2021 – is fully allocated to new large-scale industrial real estate projects and will fund nearly $2 billion for class-A developments strategically located throughout the Western U.S. By the end of 2021, CapRock will be under construction on approximately 7 million square feet of the venture’s 15 million-square-foot pipeline.

“CapRock Logistics Venture received strong interest and participation from some of the world’s largest institutional investors and sovereign wealth funds. The successful closing of the vehicle validates our proven investment strategy, which focuses on developing large-scale class-A logistics facilities and acquiring middle market value-add properties throughout the Western U.S. and Texas,” said Jon Pharris, co-founder and president of CapRock Partners. “Through this venture, we have the opportunity to strategically expand our geographic presence and capitalize our robust development pipeline.”