Cincinnati-based Al. Neyer, a commercial real estate development and design-build firm, has closed the 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 about $300 million of Class-A industrial projects managed by Al. Neyer.
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.