– Dermody Properties is a private equity investment management company specializing in national logistics real estate.
– The company successfully closed its fourth commingled fund, Dermody Properties Industrial Fund IV, L.P. (DPIF IV), raising $1.043 billion in capital commitments.
– DPIF IV includes the acquisition of the fully leased Lacey I-5 Logistics Center in the Pacific Northwest.
– The capital raised closely matches the $1.065 billion raised for the predecessor fund, DPIF III.
– All existing investors from DPIF III recommitted to DPIF IV, joined by two returning investors from DPIF II and four new investors.
– The investor base for DPIF IV includes public and corporate pension funds, insurance companies, and institutional investors from the U.S., Canada, and Europe.
– DPIF IV will focus on acquiring, developing, and operating logistics facilities in key U.S. locations, including value-add single-asset and portfolio investments, as well as strategic new developments.
– Doug Kiersey Jr., CEO and President at Dermody Properties stated: “Dermody Properties is dedicated to fostering long-term partnerships by delivering innovative logistics real estate solutions and exceptional customer service.”
– Kathleen Briscoe, Partner and Chief Capital Officer at Dermody Properties stated: “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.”
– Michael C. Dermody, Executive Chairman of Dermody Properties stated: “Our strategic focus on national logistics real estate has yielded best-in-class, diversified portfolios since 2015.”
– The company aims to leverage its industry expertise and reputation to capitalize on investment opportunities.
– Dermody Properties has maintained a national portfolio for over 60 years, serving hundreds of international, national, and regional clients.
– Shelter Rock Capital Group acted as a placement agent for DPIF IV.
