Bridge Investment Group announced Tuesday it raised nearly $1.4 billion for a fund that will acquire logistics properties. The raise exceeded the firm’s $1 billion target.
The Salt Lake City-based affiliate of alternative investment manager Apollo (NYSE: APO) said the Bridge Logistics Value Fund II is focused on buying and relocating real estate in supply-constrained U.S. markets and global gateways.
“BLV II is designed to capitalize on long-term demand drivers within the industrial sector, including supply chain modernization, e-commerce growth, and increasing tenant preference for modern, well-located distribution facilities,” a news release said.
The group will oversee leasing, asset management and capital improvements across the portfolio.
“We are incredibly proud to announce the successful close of BLV II and deeply grateful for the trust and partnership of our investors,” said CEO Jay Cornforth. “This milestone reflects the strength of our team, the durability of the logistics sector, and our conviction that disciplined investing in high-quality industrial real estate continues to present compelling long-term opportunities.”
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