Dallas property investment fund plans to buy more than $900 million in real estateJuly 25, 2016
The company – which has $400 million in property under management – plans to use the new fund to invest in up to $920 million in properties.
“In the six short years since Velocis was formed, we have raised approximately $415 million, leading to the acquisition of 21 assets across 10 markets,” managing principal Fred Hamm said in a statement. “We are grateful for the support of our investors and look forward to continuing our success as we secure assets, create value and maximize the return for our investors.”
Velocis’ Fund II is buying office, medical office, data center and retail properties priced from $20 to $70 million. They company expects to buy about 20 properties over a 3-year period.
Velocis investors include high-net-worth individuals, large family offices, and institutional investors in the United States, Mexico and Japan.
The company’s real estate is located in Arizona, Colorado, Texas, Georgia, Florida, North Carolina, and the Washington, D.C. area.