Al. Neyer Closes $200 million for Second Private Equity Real Estate Development Fund

Developer, Design-Builder Doubles Success of First Industrial Fund

CINCINNATI, Aug. 30, 2022 /PRNewswire/ -- Al. Neyer, a leading commercial real estate developer, and design-builder, announces the closing of Al. Neyer Industrial Fund II, LLC. The fund closed with a total raise of $200 million, doubling the equity raised by Fund I in 2021. The fund expects to develop 20-25 Class A industrial projects managed by Al. Neyer in its core markets of Cincinnati, Pittsburgh, Nashville, and Raleigh, and to key expansion markets that meet the needs of industrial facility users.

"The success of our first private equity fund and the unceasing demand for industrial space drove our pursuit of a second fund for new and long-term investors," said Jen Weingartner, Vice President of Capital and Investor Relations at Al. Neyer. "We continue to see e-commerce, reshoring, and industrial automation in manufacturing fueling the market's appetite for industrial real estate investments, and we have proven the strength and performance of our diverse pipeline."

Industrial real estate has a robust historical performance with steady rent growth and declining vacancy over the past two decades. Al. Neyer's focus with Fund II includes bulk, rear load and single load space, and last-mile industrial. The fund's investor roster includes high net worth investors, family offices, and institutional investors with 18.7% minority and women investors.

"We're giving our investment partners an opportunity to invest with a proven development sponsor with a long history of successful execution," said Weingartner. "We take great pride in surpassing expectations for our investors, delivering on our commitments, and providing the market with critical infrastructure to keep industries running smoothly."

Al. Neyer credits the success of its projects to its teams on the ground in each of its core markets. "Our goal is to create the right pipeline at the right time for the right users to stay ahead of the market," said Dan Ruh, President at Al. Neyer. "We are focused developers with deep entrenchment in the local communities garnering the best submarket information. We proved that with Fund I, and with the current pipeline we have in place, we are positioned to deliver for our investors."

"Upon becoming an ESOP in 2014, we established a vision for a community-based employee-fueled growth company which is being realized with nearly 200 employee-owners and our expansion across the Southeast, Midwest, and Mid-Atlantic regions," said Molly North, CEO at Al. Neyer. The 100% employee-owned company will deploy the fund's capital to develop approximately 9 million SF of industrial space across its growing footprint.

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 about the company can be found at http://www.neyer.com.

SOURCE Al. Neyer