Realterm, a value-added real estate operator in the US, has raised $150 million in capital commitments, through its wholly owned subsidiary Aeroterm, for its Realterm Airport Logistics Properties, L.P. (RALP) fund. RALP has raised close to $750 million in external commitments to capitalise its investment activities.
Realterm currently manages more than $5 billlion in assets through five logistics-oriented private equity fund series. This includes RALP, which is comprised of 133 properties at 36 airports and serves as the investment platform for Aeroterm’s development, acquisition, financing and long-term management activities in North America. Aeroterm focuses on the development, redevelopment and acquisition of on-airport air cargo and aviation-related support facilities, including cargo buildings, hangars and flight kitchens. The new capital commitments will contribute to around $300 million of projects currently in design or construction across RALP’s North American portfolio.
“Almost five years after our formation of RALP, we are pleased to have provided top quartile returns to our limited partner’s while servicing our airport and tenant customers with premier sustainable facilities built for the rapidly growing aviation industry,” said David Rose, Managing Director and Senior Fund Manager.
“Our ability to help foster job growth, sustainability and efficiency across North American airports continues to have a tangible positive impact on both our LP’s missions and the airports and surrounding communities who partner with us,” added Rose. “We are set to deliver five new LEED-certified industrial buildings that will transform each airport’s ability to grow both cargo and passenger volumes for many years,” he concluded.