Dermody Properties raised $619m

The US investment firm wrapped up the fundraising of its second value-add fund beyond its target.

Dermody Properties has achieved the final close for its Dermody Properties Industrial Fund II at $619 million, surpassing its original $600 million fundraising target.

The Fund II attracted re-up capital from the investors of its predecessor vehicle. It will follow the strategy of Fund I, targeting undervalued logistics buildings and facilities across the North American region.

Park Hill Real Estate served as the placement agent of the fundraising.