Realterm, through its wholly owned subsidiary, Aeroterm, announced today the successful closing of $150 million in capital commitments into its open-ended, commingled fund, Realterm Airport Logistics Properties, L.P. (RALP). RALP has now raised nearly $750 million in external commitments to capitalize its investment activities.
David Rose, Managing Director and Senior Fund Manager, said, “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.”
RALP is comprised of 133 properties at 36 airports totaling approximately $1.3 billion of AUM. RALP serves as the exclusive investment platform for Aeroterm’s development, acquisition, financing and long-term management activities in North America. Aeroterm, the leader of on-airport industrial facilities, 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, in part, support approximately $300 million of projects currently in design or construction across RALP’s North American portfolio.
“Our ability to help foster job growth, sustainability and efficiency across North American airports continues to have a tangible positive impact on both our LPs’ missions and the airports and surrounding communities who partner with us,” added Rose. “We are pleased with the continued commitment from our partners, as 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.”
