Dermody Properties – a diversified private equity investment management company focused on the national logistics real estate sector – announced the successful closure of its fourth commingled fund, Dermody Properties Industrial Fund IV, L.P. (DPIF IV), securing $1.043 billion in capital commitments.
This figure closely mirrors the $1.065 billion raised for its predecessor DPIF III. Every existing investor from DPIF III recommitted to DPIF IV, along with two returning investors from DPIF II and four new investors. And 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 US, Canada and Europe.
DPIF IV will continue expanding Dermody Properties’ legacy of acquiring, developing and operating state-of-the-art logistics facilities in infill locations across the U.S. And the fund will focus on value-add single-asset and portfolio investments along with strategic new development projects. Utilizing the team’s deep expertise and long-standing industry reputation, DPIF IV is prepared to capitalize on the investment opportunities within Dermody Properties’ target regions.
For over 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. And 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.
KEY QUOTES:
“Dermody Properties is dedicated to fostering long-term partnerships by delivering innovative logistics real estate solutions and exceptional customer service. By acquiring and developing logistics facilities where our customers need us most, we are poised for continued growth and success.”
- Douglas A. Kiersey, Jr., CEO and President at Dermody Properties
“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. 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.”
- Kathleen Briscoe, Partner and Chief Capital Officer at Dermody Properties
“Our strategic focus on national logistics real estate has yielded best-in-class, diversified portfolios since 2015. We are all honored by our investors’ continued confidence and look forward to the many years ahead together.”
• ⁃ Michael Dermody, Executive Chairman of Dermody Properties
