CapRock Partners
CapRock Partners is a vertically integrated industrial real estate investor and developer that acquires, develops, and manages Class A logistics facilities across the Western and Central U.S., raising capital from institutional investors and leasing to logistics, e-commerce, and manufacturing tenants.
- Company typePrivate
- Founded2009
- HeadquartersNewport Beach, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What CapRock Partners does
CapRock Partners is a vertically integrated industrial real estate investor and developer focused on the Western and Central United States. Founded in 2009 in Newport Beach, California, the firm operates across three offices (Southern California, Phoenix, and Dallas-Fort Worth) with 50+ team members and has acquired, developed, and entitled over 33 million square feet of industrial real estate since inception, with a current portfolio exceeding 21 million square feet. The platform combines middle-market value-add acquisitions (typically $15-$35 million of equity per deal, 100,000-500,000 square feet), large-scale Class A ground-up development (often greater than 500,000 square feet, with features such as 40-foot clear heights and truck-first circulation), and third-party asset management services for institutional clients.
The business model is structured around a series of closed-end private real estate funds. Since 2010, CapRock has raised $1.7 billion of equity across eight funds from a diversified institutional LP base including sovereign wealth funds, university endowments, domestic pension plans, life insurance companies, hospital systems, family offices, and Registered Investment Advisors, with $2.934 billion in gross assets under advisement. Revenue is generated through a mix of recurring fund management fees, transaction-based acquisition and disposition fees, third-party asset management services, and development-driven value creation through build-to-core and merchant-build projects. The firm maintains a 55% or less LTV target at stabilization as its principal risk discipline.
Customers bifurcate into two distinct groups: institutional capital partners who commit equity to the fund vehicles, and logistics, distribution, e-commerce, and manufacturing tenants (including Fortune 5 e-commerce, advanced energy storage, and third-party logistics providers) who lease Class A industrial space. Property leasing is executed through institutional broker relationships with firms including Colliers, Lee & Associates, JLL, and Stream Realty. Recent operational momentum includes entry into the Houston market, a systematic Northern Nevada acquisition program, two Texas ground-up development groundbreakings in 2026 (Clay Road Business Park and McKinney Air Business Park), and the October 2025 close of Fund IV, the largest value-add fund and second-largest fund overall in the firm's history.
CapRock Partners firmographics
Firmographics- Name
- CapRock Partners
- Legal name
- CapRock Partners
- Website
- https://caprock-partners.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- CapRock Partners is a vertically integrated industrial real estate investor and developer that acquires, develops, and manages Class A logistics facilities across the Western and Central U.S., raising capital from institutional investors and leasing to logistics, e-commerce, and manufacturing tenants.
- Ownership category
- akta.pro rank
CapRock Partners industry classification
Industry- Product category
- Industrial Real Estate Investment and Development
- NAICS
- Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282)
- akta.pro primary industry
- Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)
- akta.pro secondary industry
- Primary Fund-of-Funds (Blind-pool FoF) (FSANAGAA)
Keywords
Where CapRock Partners is headquartered
LocationHeadquarters
- HQ city
- Newport Beach
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
CapRock Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Fund Management Fees: CapRock raises equity across institutional investor base including sovereign wealth funds, endowments, pension funds, and family offices through a series of value-add and development funds. The firm has raised eight funds since 2010, generating management fees and carried interest from fund operations.
- Development & Property Sales: Revenue generated through development of industrial properties for sale or hold. Firm develops Class A industrial facilities and executes value-add business plans before selling properties to realize returns for fund investors.
- Asset Management Services: Third-party asset management services provided for institutional investors managing their industrial real estate portfolios.
- Acquisition & Disposition Fees: Transaction-based fees from acquisitions and dispositions of industrial real estate assets across the portfolio.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
CapRock Partners product offering
Product offeringCore offering
CapRock Partners is an industrial real estate investor and developer that acquires, develops, and manages Class A logistics and distribution facilities across the Western and Central United States. The firm operates a series of institutional investment funds and provides third-party asset management services to sovereign wealth funds, pension plans, university endowments, life insurance companies, family offices, and RIAs. Revenue is generated through fund management fees, carried interest, and transaction-based fees from acquisitions, dispositions, and property leasing.
Product overview
CapRock Partners is an industrial real estate investor and developer offering a unified platform combining value-add property acquisition, ground-up development, and third-party asset management services. The company operates across the Western and Central United States, managing a series of investment funds (including the Value-Add Industrial Fund series) and developing large-scale logistics parks and industrial facilities. Key development projects include West 202 Logistics (3.4M+ SF master-planned campus), I-15 Logistics, Central Point Visalia, Palomino Ranch Business Park, Clay Road Business Park, and McKinney Air Business Park. The firm provides asset management services to institutional investors including sovereign wealth funds, endowments, pension plans, and family offices.
Differentiator
Problem solved
Functional benefit
Products and services
- Industrial Real Estate Investment Acquisition of middle-market value-add industrial assets, including vacant buildings, buildings in need of renovations, excess land, entitlement opportunities, and industrial outside storage (IOS). Typical investments range from $15 million to $35 million of equity per asset, targeting properties of 100,000 to 500,000 square feet in major infill Western and Central U.S. markets. Offered to institutional investors via CapRock's series of investment funds.
- Industrial Real Estate Development Ground-up development of institutional-quality Class A industrial facilities including big-box industrial, shallow-bay industrial, merchant build, build-to-core, and multi-phase logistics parks. Design features include 40-foot clear heights, excess trailer parking, truck-first traffic circulation, oversized power capabilities, and parking for manufacturing uses. Properties typically exceed 500,000 square feet. Delivered to institutional investor clients through fund vehicles.
- Third-Party Asset Management Asset management services for institutional investors including sovereign wealth funds, pension plans, university endowments, life insurance companies, hospital systems, family offices, and Registered Investment Advisors, managing their industrial real estate portfolios across the full lifecycle.
- Value-Add Industrial Fund Series Series of value-add industrial real estate funds that acquire middle-market industrial assets between $15 million and $35 million of equity per investment, with properties typically ranging from 100,000 to 500,000 square feet. The series targets high-growth logistics markets across the Western and Central U.S. Fund IV is the eighth and most recent vehicle in CapRock's broader fund program.
Quantifiable outcome
- 33+ million square feet of industrial real estate acquired, developed, and entitled since 2009
- +3 more outcomes
Companies that use CapRock Partners
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles2 records
CapRock Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
CapRock Partners partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- EastGroup PropertiesminorPublicly traded REIT acquired CapRock Point @ Cheyenne, a 101,332 SF industrial warehouse in North Las Vegas, completing CapRock's business plan for the asset
- CollierscoreLeading commercial real estate brokerage firm representing CapRock in property leasing transactions including CapRock West 202 Logistics and McKinney Air Business Park
- Lee & AssociatescoreCommercial real estate brokerage representing CapRock in Palomino Ranch Business Park lease transactions
- Stream RealtyminorRepresented CapRock Partners in the sale of West Valley Logistics to a Southern California-based alternative fashion company
- JLL (Jones Lang LaSalle)coreJLL's Dallas industrial leasing team represented CapRock in acquisition of 32.5-acre site in Sunnyvale, Texas for Clay Road Business Park development
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
CapRock Partners competitors and assessment
Company assessmentBroad incumbents
- Prologis: The largest publicly traded industrial REIT globally with over 1 billion square feet. While not directly comparable in scale, Prologis is the dominant incumbent in institutional industrial real estate and a primary capital allocator and acquirer of Class A logistics facilities of the type CapRock develops.
Direct peers
- EastGroup Properties: Publicly traded industrial REIT focused on Sun Belt Class A warehouse/distribution. EastGroup is a direct repeat buyer of CapRock's developed and stabilized assets (Spanish Ridge, CapRock Point @ Cheyenne), making it both a transactional counterparty and a close operating-model peer in target geographies.
- First Industrial Realty Trust: Publicly traded industrial REIT and fund manager with a focus on Class A bulk distribution and light industrial. Paul Liebermann (SVP at CapRock) previously worked at First Industrial, and the firm runs a comparable value-add + development platform in similar US Sun Belt and coastal markets.
- Terreno Realty Corporation: Publicly traded industrial REIT focused on Class A urban infill warehouses in major US coastal markets including Los Angeles, Northern California, Seattle, and Miami — directly overlapping CapRock's Inland Empire, Northern Nevada, and Phoenix target markets.
- Hillwood: Privately held industrial and commercial real estate developer founded by Ross Perot Jr., with deep operations in Texas and major US logistics markets. Patrick Daniels (CapRock CEO) and Taylor Starnes (VP) both held prior roles at Hillwood, and Hillwood operates a comparable industrial investment and development platform.
- Panattoni Development Company: One of the largest privately held industrial real estate developers in the US, operating across the West Coast, Mountain West, and Texas. Panattoni competes with CapRock directly in spec industrial development in markets like Phoenix, Las Vegas, and Northern California.
- Dermody Properties: Privately held industrial real estate investment and development firm focused on Class A logistics facilities in Western US and select national markets. Dermody runs a similar build-to-core development platform targeting institutional investors.
- Crow Holdings Industrial: The industrial platform of Crow Holdings (formerly Trammell Crow Company), one of the largest private industrial developers in the US with significant Sun Belt and West Coast operations. Operates a vertically integrated fund management model analogous to CapRock's.
Emerging players
- Stream Realty Partners: National commercial real estate firm with a growing industrial investment and development platform. Stream has acted as a broker for CapRock on dispositions, indicating overlapping market presence; Stream's full-service investment platform is a peer for owner-developer relationships with institutional capital.
Others
- Ares Management Real Estate: Global alternative asset manager with a large real estate equity and debt platform. Ares co-invested with CapRock on the Spanish Ridge disposition, evidencing direct overlap in industrial deal sourcing and capital deployment strategies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
CapRock Partners social profiles
Digital presenceCapRock Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
CapRock Partners leadership team
Management profileNumber of profiles
Profiles10 records
CapRock Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CapRock Partners M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CapRock Partners
What does CapRock Partners do?
CapRock Partners is an industrial real estate investor and developer that acquires, develops, and manages Class A logistics and distribution facilities across the Western and Central United States. The firm operates a series of institutional investment funds and provides third-party asset management services to sovereign wealth funds, pension plans, university endowments, life insurance companies, family offices, and RIAs. Revenue is generated through fund management fees, carried interest, and transaction-based fees from acquisitions, dispositions, and property leasing.
Is CapRock Partners a public or private company?
CapRock Partners is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was CapRock Partners founded?
CapRock Partners was founded in 2009. It employs 51 to 100 people.
Where is CapRock Partners based?
CapRock Partners is headquartered in Newport Beach, United States, in the North America region.
How does CapRock Partners make money?
Four revenue lines are on record. Fund Management Fees are the primary driver. The others are development & Property Sales, asset Management Services and acquisition & Disposition Fees.
Who are CapRock Partners's main competitors?
Prologis is listed as a broad incumbent. Direct peers are EastGroup Properties, First Industrial Realty Trust, Terreno Realty Corporation, Hillwood, Panattoni Development Company, Dermody Properties and Crow Holdings Industrial. Stream Realty Partners is listed as an emerging player. Ares Management Real Estate is listed as an others.
Does CapRock Partners have an API?
No public API is recorded for CapRock Partners.
What industry is CapRock Partners in?
CapRock Partners's product category is Industrial Real Estate Investment and Development. Its primary akta.pro industry code is FSANAAAJ, Venture Capital Fund-of-Funds / Multi-Manager Platforms, with a secondary code of FSANAGAA, Primary Fund-of-Funds (Blind-pool FoF). Its NAICS code is 52394 and its SIC code is 6532.