Developer, Design-Builder Builds on the Success of a Robust Industrial Pipeline
CINCINNATI, April 19, 2021 /PRNewswire/ -- Al. Neyer, a leading commercial real estate development and design-build firm, announces the closing of Al. Neyer Industrial Fund I, LLC, its first real estate investment fund. The fund closed on April 1 with a total raise of $110 million in equity and will develop approximately $300 million of Class A industrial projects managed by Al. Neyer.
Commercial real estate developer, design-builder Al. Neyer raises $110 million in its first real estate investment fund.
"Our real estate investments continue to perform extremely well for our investors, positioning us for success with our first private equity fund," said Jen Weingartner, vice president of capital and investor relations at Al. Neyer. "E-commerce is growing at an explosive rate, and reshoring is bringing manufacturing back to the U.S. These two demand drivers have helped us identify compelling opportunities for investment in industrial real estate across our growing footprint. Thanks to our strategic local presence in dynamic growth markets and deep bench of in-house development, construction, and finance experts, we have built a robust pipeline that currently totals more than 12 million SF of potential industrial space. We are confident in the strength of our diverse pipeline with well-located sites where tenants want to be."
Al. Neyer's focus with Fund I includes bulk product, rear load and single load product, and last-mile industrial. The developments will be located within its four growth markets – Cincinnati, Pittsburgh, Nashville, and Raleigh – but will also include markets within 300 miles of its existing footprint.
Interest in Al. Neyer's first industrial development fund has exceeded expectations, helping the team surpass its initial goal to raise $100 million. "We're giving both long-term investors and new investors an opportunity to invest with a proven development sponsor with a long history of successful execution," said Weingartner. "We are highly committed to delivering exceptional results for our investors and value the trust that they have placed in us."
About Al. Neyer
For more than 125 years, Al. Neyer has offered a diverse set of real estate development and design-build construction solutions for commercial clients. Established in 1894 and employee-owned since 2014, the company specializes in build-to-suit and speculative commercial projects, including industrial facilities, office, and medical buildings, multi-unit residential, as well as urban mixed-use developments. Al. Neyer is continually recognized for its ability to collaborate and provide greater value, high-quality, and faster project delivery. Al. Neyer is headquartered in Cincinnati, has offices in Nashville, Pittsburgh, and Raleigh, and serves a local, regional, and national client base. More information can be found at http://www.neyer.com.
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SOURCE Al. Neyer