, formerly of CapRock Partners LLC, last summer started DIV Industrial, based in Irvine, California. DIV is currently raising capital for its first fund, with a goal of allowing for more than $2 billion of industrial development and entitlement projects throughout the Western U.S.
There's a whole range of things. We're looking at everything from the way that the tilt panels are formed, and the materials that are used. It'll have solar. We're going to actually catch all the rainwater, when it does rain, and recycle that into different parts of the building for non-potable use. a lot to do with the materials. We're probably one of the first groups, I think, that I've heard in a while that's going to go zero skylights.
Your firm is actively raising capital for a first fund, which you say will allow more than $2 billion in industrial development and entitlement projects. Can you talk a bit about how that capital raising is going and what the sentiment is in the market, given the economy has a lot of people stressed right now? What is capital appetite like?
We're going to take our time and do a co-invest, so we would partner with other large institutions for the remainder of the equity in deals. The reality is, is probably $2 billion to $3 billion in total capitalization — that would be debt and equity.from where it was a year ago, and it feels like there's a pretty robust construction pipeline in a lot of markets.