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BOSTON-Cabot Properties Inc. has closed its Cabot Industrial Value Fund II LP after raising $450 million in six weeks following the sale of assets in its Cabot Industrial Value Fund. The transaction totaled approximately $700 million. When combined with the fund's debt capacity, Cabot will have $1.3 billion in available investment funds.
Robert Patterson, senior partner with the private investment firm, says in a statement that the locally based investment group was able to purchase or contract to acquire more than $70 million in properties in eight separate transactions within a month of the sale of its Fund I assets. He says that competition for properties remains strong.
Franz Colloredo-Mansfeld, managing partner with the firm, says Cabot intends to focus on acquisitions and development opportunities throughout major industrial markets in North America. This follows a strategy the firm has used during the past eight years to acquire, develop and sell industrial properties valued in excess of $2.8 billion.
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