Dermody Properties Raises $1 Billion for Industrial Fund IV

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Aug 20, 2024, 09:00 ET

RENO, Nev., Aug. 20, 2024 /PRNewswire/ -- Dermody Properties—a diversified private equity investment management company focused exclusively on the national logistics real estate sector—announces the successful closure of its fourth commingled fund, Dermody Properties Industrial Fund IV, L.P. (DPIF IV), securing $1.043 billion in capital commitments.

The acquisition of the fully leased Lacey I-5 Logistics Center represents a significant investment by Dermody Properties within the Pacific Northwest. The acquisition was a part of DPIF IV.

This figure closely mirrors the $1.065 billion raised for its predecessor, DPIF III. Demonstrating strong investor confidence, every existing investor from DPIF III recommitted to DPIF IV, along with two returning investors from DPIF II and four new investors. The investor base for DPIF IV includes a diverse group of prominent public and corporate pension funds, insurance companies and other institutional investors from the United States, Canada and Europe.

"Dermody Properties is dedicated to fostering long-term partnerships by delivering innovative logistics real estate solutions and exceptional customer service," said Douglas A. Kiersey, Jr., CEO and President at Dermody Properties. "By acquiring and developing logistics facilities where our customers need us most, we are poised for continued growth and success."

DPIF IV will continue to expand Dermody Properties' legacy of acquiring, developing and operating state-of-the-art logistics facilities in infill locations across the U.S. The fund will focus on value-add single-asset and portfolio investments, along with strategic new development projects. Leveraging the team's deep expertise and long-standing industry reputation, DPIF IV is poised to capitalize on the investment opportunities within Dermody Properties' target regions.

"We are pleased with the overwhelming success of DPIF IV, the continued support of our valued investors from DPIF I, II and III, and the addition of new investors in the U.S. and Europe," said Kathleen S. Briscoe, Partner and Chief Capital Officer at Dermody Properties. "Dermody Properties' proven track record in logistics real estate, coupled with our world-class team, positions us to deliver exceptional returns to our global investor base."

"Our strategic focus on national logistics real estate has yielded best-in-class, diversified portfolios since 2015," said Michael C. Dermody, Executive Chairman of Dermody Properties. "We are all honored by our investors' continued confidence and look forward to the many years ahead together."

For more than 60 years, Dermody Properties has maintained a national portfolio in major markets with strong underlying fundamentals, including favorable supply-demand dynamics, high barriers to entry, above-average rent growth, institutional demand and liquidity. The company has served hundreds of international, national and regional clients.

Shelter Rock acted as a placement agent for DPIF IV, and the legal advisor for Dermody Properties was Kirkland & Ellis.

Photo Cutline: The acquisition of the fully leased Lacey I-5 Logistics Center represents a significant investment by Dermody Properties within the Pacific Northwest. The acquisition was a part of DPIF IV.

About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas, Indianapolis and New Jersey. For more information, visit Dermody.com.