High Street Raises $500 Million for Core-Plus Industrial Fund
MARCH 2020
On March 22, 2020, High Street Real Estate Fund VI, L.P. (the “Fund”) held its final close, reaching its hard cap with total equity commitments of $500 million. Utilizing targeted leverage of 50%, the Fund will seek to acquire approximately $1 billion of assets in its target markets.
High Street Logistics Properties, LLC (“High Street”) formed the Fund to continue its strategy of acquiring small box warehouse distribution assets in the eastern two-thirds of the United States, with a specific focus on Class A and B in-fill properties fulfilling regional, local and last mile logistics requirements for its tenants. The Fund targets primary distribution markets, including Chicago, Northern New Jersey, Central Pennsylvania, Atlanta, Florida and Texas.
The Fund attracted capital from existing investors and several new top-tier, institutional investor relationships. Investors in the Fund include insurance companies, public and corporate pension funds and other institutional investors from the United States and Europe.
To date, the Fund has made 9 investments that, in aggregate, represent approximately 25% of the Fund’s total commitments.
Accord Capital Partners LLC, along with its affiliate Accord Europe Limited, served as exclusive global capital advisor to High Street.
ABOUT HIGH STREET LOGISTICS PROPERTIES, LLC
High Street Logistics Properties, LLC is a recognized private equity real estate investment management company focused exclusively on institutional quality industrial assets in major markets across the eastern two-thirds of the United States. With extensive expertise across all facets of real estate acquisition, finance, development, operations, disposition, portfolio and asset management, it is an experienced, institutional and hands-on operator committed to providing both outstanding service to its tenants and superior risk-adjusted returns to its investors. For further information on the High Street platform, visit: www.hsrealtyco.com/.
ABOUT ACCORD CAPITAL PARTNERS LLC
Accord Group Holdings LLC (“Accord”), through its affiliates, is a global capital advisor and principal investor. With its headquarters in San Francisco and personnel in Chicago, London, Hong Kong and Seoul, Accord engages with a wide variety of participants in the real estate private equity industry. Accord Capital Partners LLC, its broker/dealer affiliate, provides advisory and capital raising services in the United States. For further information on Accord, visit: www.accord-group.net.
