CRG, Clayco’s development arm, officially raised $450 million as part of its U.S. Logistics Fund II. This will help build even more projects within the industrial sector.

It’s exciting on many fronts, and I couldn’t be more proud of my son Shawn for leading this initiative and exceeding the initial goal.

CRG’s USLF Fund II will help meet increasing demand and capitalize on the strongest industrial real estate market in decades.

I look forward to seeing the $450 million in equity CRG raised positively impact both our country and industry as it will allow the development of about $1.5 billion in projects over the next two years.

The fund is also groundbreaking for exceeding its goal of raising 10% equity from underrepresented groups. I am proud to say that more doors have been opened for people to participate that weren’t able to before and this is a big step toward increasing inclusion and equality in the construction industry.

Congrats to Shawn and all of the team at CRG who played such an important part in bringing this all together!

Read the full article on Crain’s here.