ElmTree announces final close for US Net Lease Fund IV

The St Louis-based investment firm has confirmed a final close for its fourth North American core-plus fund.

  • Fund: ElmTree US Net Lease Fund IV
  • Amount raised: $888 million
  • Target Size: $500 million
  • Hard Cap: $800 million
  • Stage of fundraising: Final close
  • Final close: October 2021
  • Predecessor fund: ElmTree US Net Lease Fund III ($200 million)

US investment firm ElmTree Funds has raised $888 million for ElmTree US Net Lease Fund IV, a contact at the firm told PERE. Like its predecessor, the fourth-generation fund will finance strategically located markets with what ElmTree believes have strong market leasing fundamentals, positive demographic trends and superior accessibility to major transportation hubs. These will focus on investments in industrial and logistics vehicles in North America. The fund is ElmTree’s largest co-mingled fund to date, holding $2.5 billion in immediate investment capacity, of which approximately $800 million has been committed and deployed.