Monday August 29, 2022

Al. Neyer Raises $200 Million Fund to Build Industrial Projects

Al. Neyer announces the close of its second industrial fund, raising $200 million to fund industrial projects. Fund II doubles the success of Fund I which closed April 2021 at $110 million.

From Cincinnati Business Courier:

Al Neyer, one of Greater Cincinnati’s most active real estate developers, has closed its second real estate investment fund, doubling what it raised just a year ago.

The downtown-based commercial real estate developer and design-build firm closed Al Neyer Industrial Fund II in August, raising $200 million. This second fund is expected to be used to develop class A industrial projects totaling $900 million.

Fund II is expected to fuel the development of 20 to 25 class A industrial projects managed by Al Neyer in its core markets of Cincinnati, Pittsburgh, Nashville and Raleigh, as well as expansion markets that meet the needs of industrial facility users. The total amount of space Al Neyer expects to build with this fund is about 9 million square feet.

After successfully raising $110 million for industrial development in spring 2021, Al Neyer saw “unceasing demand” for industrial space. The company’s robust development pipeline drove its pursuit of a second industrial fund.

Doubling the size of the first fund meant finding new investors to join existing ones. Before Al Neyer launched its industrial funds, it had 120 investors. Today, the developer has 243 investors.

Al Neyer’s focus with Fund II includes developing bulk, rear-load and single-load buildings, as well as last-mile industrial space.

Read more from Tom Demeropolis, Managing Editor, Cincinnati Business Courier.

Visit our Newsroom to learn more about the initial $110 million fund that preceded Fund II. To learn more about our robust pipeline of industrial projects, check out our Portfolio.

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