Founders Properties, L.L.C. announced the completion of the company's Income Fund III, which strategically acquired approximately $200 million of industrial and office assets around the country. Founded nearly eight years ago, Fund III was the first fund created and completed by the new management team, posting strong returns in the mid-teens for investors throughout its duration.
“With Fund III, we made important strategic shifts that allowed us to remain competitive on pursuits and acquisitions," said Wade Lau, president and CEO of Founders Properties. “We shifted our investment focus to weigh more heavily in industrial than office space, which allowed us to achieve greater diversity of assets, tenants and markets.We believe this approach ultimately resulted in the exciting and strong performance of Fund III over the years."
Founders' emphasis on portfolio diversification, established relationships, and cash-flow-focused strategies helped shape and drive deals within Income Fund III. Within the next year, Founders' goal is to begin fundraising for Fund VI, which will continue to focus on income provided by a diversified portfolio of primarily industrial assets located throughout the U.S.
About Founders Properties, L.L.C.
Headquartered in Minneapolis, MN, Founders Properties, L.L.C. (“Founders") is a privately held real estate investment company formed by two highly regarded industry veterans: Best Buy founder Richard Schulze and Opus founder Gerald Rauenhorst. Richard Schulze and the Trusts created for the benefit of the descendants of Gerald Rauenhorst continue to sponsor this fund. Since 1998, Founders (previously known as Opus Properties, L.L.C.) has been involved in raising and managing 13 private commercial real estate investment funds with a purchase value of over $3.4 billion covering approximately 40 million square feet.