Dermody Properties Raises $1B for 4th Industrial Fund

Dermody Properties, a private equity investment manager focused on the national logistics real estate sector, announced the close of its fourth commingled fund, Dermody Properties Industrial Fund IV, L.P. (DPIF IV), raising $1.043 billion. The firm raised $1.065 billion for its predecessor fund, DPIF III.

The Reno, NV-based company said all existing investors 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 public and corporate pension funds, insurance companies and other institutional investors from the U.S., Canada and Europe.

“By acquiring and developing logistics facilities where our customers need us most, we are poised for continued growth and success,” said Douglas A. Kiersey, Jr., CEO and president at Dermody Properties.

DPIF IV will acquire, develop and operate 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.

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

Pictured: Lacey I-5 Logistics Center within Pacific Northwest. Acquisition part of DPIF IV. Courtesy of Dermody Properties.