Largest value-add fund to date positions firm to expand portfolio of logistics assets in high-growth markets across the Western and Central U.S.
NEWPORT BEACH, Calif. – October 6, 2025 – CapRock Partners (“CapRock”), a privately-owned investor and developer of industrial real estate in the Western and Central U.S., today announced the final closing of CapRock Value-Add Industrial Fund IV, LP (“Fund IV”). The vehicle is CapRock’s eighth fund overall and fourth in its value-add series.
Formed in 2023, Fund IV is designed to acquire, reposition and develop value-add industrial properties in high-growth logistics markets throughout the Western and Central U.S. The strategy targets underperforming assets that can be enhanced through capital improvements, operational efficiencies or strategic leasing; a portion of the fund is also allocated to new development. Backed by institutional investors, Fund IV seeks to deliver attractive risk-adjusted returns while expanding CapRock’s portfolio of Class A logistics facilities.
Fund IV is the largest vehicle in CapRock’s value-add series and the firm’s second largest overall since its founding in 2009. To date, the fund has committed more than 50% of its capital across more than 3 million square feet of industrial assets in Texas, Nevada and California. Investments span both existing facilities and ground-up developments, with a focus on infill, high-barrier-to-entry submarkets. Given the fund’s robust investment pipeline, CapRock expects that a portion of the capital deployed into the fund’s early investments may be recycled during the investment period.
“Our investment strategy is rooted in identifying opportunities where CapRock’s development and operational expertise can create significant value,” said Jon Pharris, co-founder and president of CapRock Partners. “Fund IV will continue to be thoughtfully deployed in our target markets across the Western U.S. and Texas, where tenant demand for modern, well-located logistics space remains strong.”
Investors in Fund IV include a diverse group of new and repeat institutional investors, including some of the nation’s largest college endowments, pension funds, family offices, registered investment advisors and other institutional limited partners.
“We are grateful for the continued trust and support from our partners,” added Pharris. “With the recent reset in industrial property values in many markets, we believe this is a great time to be investing in institutional-quality logistics facilities at attractive prices. By applying our entrepreneurial approach and leveraging the breadth of our experience, we aim to consistently deliver high-quality industrial real estate investments and developments that create long-term value.”
Including its development pipeline, CapRock’s total portfolio totals more than 21 million square feet of Class A logistics facilities. With nearly $3 billion of gross assets under advisement or management as of June 30, 2025, the firm continues to pursue new investment and development opportunities in targeted distribution and logistics hubs across the Western and Central U.S.
ABOUT CAPROCK PARTNERS
Founded in 2009 in Newport Beach, Calif., CapRock Partners is a privately owned investor and developer of industrial real estate in the Western and Central United States. The company specializes in acquiring middle-market value-add industrial assets, developing large-scale institutional-quality Class A industrial warehouse facilities in key locations, and providing third-party asset management services for institutional investors. The firm is actively acquiring land for development and middle market value-add assets across the Western and Central U.S. Since inception, its total investment and development pipeline exceeds 35 million square feet of industrial real estate. Follow the company on Facebook, LinkedIn, X and Instagram.
