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10/07/25
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CapRock Partners has closed its CapRock Value-Add Industrial Fund IV, LP (“Fund IV”). The vehicle is CapRock’s eighth fund overall and fourth in its value-add series.
Formed in 2023, Fund IV is designed to acquire, reposition and develop value-add industrial properties in high-growth logistics markets throughout the Western and Central U.S. The strategy targets underperforming assets that can be enhanced through capital improvements, operational efficiencies or strategic leasing; a portion of the fund is also allocated to new development. Backed by institutional investors, Fund IV seeks to deliver attractive risk-adjusted returns while expanding CapRock’s portfolio of Class A logistics facilities.
Fund IV is the largest vehicle in CapRock’s value-add series and the firm’s second largest overall since its founding in 2009. To date, the fund has committed more than 50% of its capital across more than 3 msf of industrial assets in Texas, Nevada and California. Investments span both existing facilities and ground-up developments, with a focus on infill, high-barrier-to-entry submarkets. Given the fund’s robust investment pipeline, CapRock expects that a portion of the capital deployed into the fund’s early investments may be recycled during the investment period.
“Our investment strategy is rooted in identifying opportunities where CapRock’s development and operational expertise can create significant value,” said Jon Pharris, co-founder and president of CapRock Partners. “Fund IV will continue to be thoughtfully deployed in our target markets across the Western U.S. and Texas, where tenant demand for modern, well-located logistics space remains strong.”
Investors in Fund IV include a diverse group of new and repeat institutional investors, including some of the nation’s largest college endowments, pension funds, family offices, registered investment advisors and other institutional limited partners.
Including its development pipeline, CapRock’s total portfolio totals more than 21 msf of Class A logistics facilities. With nearly $3 bil of gross assets under advisement or management as of June 30, 2025, the firm continues to pursue new investment and development opportunities in targeted distribution and logistics hubs across the Western and Central U.S.
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