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NB Partners Fund III Closes at $500M

Boston-based NorthBridge Partners and New York-based Park Madison Partners have announced the close of NB Partners Fund III LP. Fund III, which was oversubscribed, closed at the fund’s $500 million hard cap.

NorthBridge launched its logistics strategy in 2014 with the goal of acquiring, modernizing, and developing small-to-mid sized final-mile logistics assets on the U.S. East Coast. Fund III’s strategy is a continuation of the prior two vehicles, targeting strategically located US East Coast industrial assets that are critical to the modern e-commerce supply chain as companies compete for the shortest delivery times to consumers.

Investors in the fund included a mix of public and private pensions, foundations, asset managers, family offices and high net worth individuals.

“We are grateful for the opportunity to work with NorthBridge on this capital raise,” said Rob Kohn, partner at Park Madison Partners. “We launched this fund in March 2020 right when the pandemic struck, and as a result, the fundraising effort shifted to an almost entirely virtual format. The success despite this challenge is a testament to NorthBridge’s talent as an investment manager in the final-mile industrial sector and to investors’ confidence in them as fiduciaries.”

Connect

Inside The Story

Park Madison Partners’ Kohn

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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