Cabot Properties, Inc. (“Cabot”) is a private equity real estate investment firm that has been in
business for over three decades directly and through its predecessor entities. Cabot is the general
partner of Cabot Properties L.P. (together with its affiliates and in the form of predecessors, the
“Adviser”), which has been in business since 1986. The Adviser is the shareholder of Cabot
Partners Limited (“CPL”), a limited company organized under the laws of England and Wales, as
well as Cabot Partners Australia Pty Ltd, an Australian proprietary company, (“CP AUS”), Cabot
Partners Netherlands Coöperatief U.A., a Dutch Cooperative (“CP NL”) and its dependent
branch Cabot Partners Netherlands Coöperatief U.A. Zweigniederlass ung Deutschland (“CP
GER”), and Cabot Partners Japan, LLC (“CP JPY"), a limited liability company organized under
the laws of Delaware. The Adviser provides real estate investment advisory and management
services to real estate investment vehicles in the forms of sponsored private investment funds
(“Funds”), client investment funds, or separately managed accounts, and may offer services for
the purposes of co-investment or with respect to joint ventures (all such vehicles and accounts
collectively with the Funds, “Clients”). The Adviser has established the Funds and related
investment vehicles including real estate investment trusts (“REITs”) and other related entities
that ultimately own real property assets. The Adviser generally uses controlled, affiliated entities
to serve as the general partner or managing member of its Funds and their related entities. The
Adviser targets institutional investors, such as university endowments, pension and profit-sharing
plans, other tax-exempt entities, corporations and other business entities, and private institutional
investors, to invest in Cabot-sponsored real estate investment vehicles.
The following affiliates provide investment advice and asset management services to the Adviser
and indirectly to the Clients advised by the Adviser with respect to real estate assets in their
respective global regions, however the Adviser retains discretionary authority over Fund
investments: (a) CPL (United Kingdom), (b) CP AUS (Australia), (c) CP NL (Europe), (d) CP
GER (Germany), and (e) CP JPY (Japan). All affiliates provide investment advice and/or asset
management services to the Adviser with respect to real estate assets in each affiliate’s respective
geographical region, however the Adviser retains discretionary authority over Fund investments..
Additionally, all affiliates do not have a direct contractual relationship with any separate account
Clients.
The services of the Adviser include or have included:
Acquiring and developing industrial properties, such as bulk warehouses, multi-
tenant properties and light industrial properties located in strategic markets;
Recommending short-term cash management instruments (e.g., money market
mutual funds and other short-term instruments) for accumulated funds awaiting
investment;
Placing and negotiating
financing instruments (e.g. loans, and interest rate and FX
rate hedging instruments);
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Property management and/or oversight of third-party property management,
including maintenance and repairs, collections, disbursements and fulfillment of
owner obligations under leases;
•
Development management, construction management services and/or oversight of
third-party construction and development management services, which include
developing detailed plans and negotiating construction and development
agreements;
• Negotiating leases with industrial tenants;
•
Continuous portfolio supervision, which includes reviewing budgets and
recommending expenditures to improve or upgrade properties;
•
Recommending the sale of properties, as appropriate;
•
Negotiating property sales and overseeing the documentation of purchase and sale
transactions;
•
Recordkeeping relating to each property;
•
Facilitating appraisals and audits; and
•
Providing periodic reports and meetings with investors as required.
Generally, Cabot forms the Funds, which are generally real estate limited partnerships, and other
investment entities in which institutional investors may invest. Typically, investors must commit
a minimum of $10 million to invest in the Funds, although the general partner of each Fund has
the discretion to accept smaller commitments. Although the Adviser typically enters into
advisory agreements with an affiliated general partner or member manager of the investment
vehicles, the Adviser considers the investment vehicle to be its Client for purposes of the
Investment Advisers Act of 1940 (the “Advisers Act”). The Adviser currently renders advice on
a discretionary basis to real estate investment vehicles including Cabot Industrial Core Fund II,
L.P., Cabot Industrial Core Fund III, L.P., Cabot Industrial Value Fund VI, L.P., CIVF VI
Development Fund, L.P., CIVF VI Australia, L.P., CIVF VI-A Australia, L.P., Cabot Industrial
Value Fund VII, L.P., and Cabot UK Core-Plus Industrial Fund, SCSp,1 and on a non-
discretionary basis to separately managed accounts for pooled investment vehicles, as well as to
Cabot Industrial Opportunity Fund I, L.P. and Cabot UK Industrial Opportunity Fund I, L.P. The
Adviser may sponsor other Funds and offer co-investments, joint ventures, and other separately
managed accounts in the future.
As of December 31, 2023, the total gross assets, including cash but excluding uncalled
commitments, of all Client accounts collectively, was $6,012,697,841 which constitutes the
1 The Adviser is in the process of a liquidation of Cabot Industrial Value Fund V, L.P. after the sale of its portfolio
in 2021. Any assets attributable to this Fund as of 12/31/23 are included in the Adviser’s assets under management.
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assets under the management of the Adviser.2 Of the total gross assets as of December 31, 2023,
$ 5,019,550,848 was managed on a discretionary basis and $993,146,993 was managed on a non-
discretionary basis.