Realterm closes Realterm Logistics Fund III at hard cap of USD370m

Realterm has held the final close of Realterm Logistics Fund III (RLF III) at its hard cap of USD370 million. The offering was oversubscribed on the back of strong investor demand. RLF III is the tenth fund raised across the Realterm platform. 

Ed Brickley, Managing Director and Senior Fund Manager for the Realterm Logistics Fund series, says: "We are grateful for the strong institutional support from our longstanding Realterm partners and are excited to welcome several new investors into the partnership. Our investment and asset management teams have deep experience operating through cycles, and we are eager to bring our financial and operational expertise to bear during this current market dislocation."

As with its predecessor funds, RLF III is a closed-end, value-added fund, which invests into HFT logistics real estate throughout the US Strategically located in and around major population centres, primary distribution hubs and along major freight corridors, HFT properties facilitate the movement, not the storage, of freight through the nation's supply chains. HFT property types include cross-dock truck terminals, transload and related trans-shipment, air cargo, parcel sortation, and final mile delivery facilities, among others.

"The effect of e-commerce on customers' delivery expectations and retailers' delivery promises has been a profound global phenomenon. Covid-19's effect will accelerate the rate of change in e-commerce penetration that Realterm had previously recognised as a 20-year-plus tailwind for our business," says Bob Fordi, Realterm's CEO. "The isolation dynamic from the pandemic has accelerated this direct-to-consumer delivery shift."