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Laxman Pai, Opalesque Asia: North American logistics real estate platform Logistics Property Company (LPC) closed its second develop-to-core fund, LPC Logistics Venture Two with total equity commitments of $1.8 billion from several global institutional investors and co-investment by LPC.
Approximately 35 percent of the fund has been allocated to investments in Atlanta, Chicago, Dallas, Denver, Inland Empire, Pennsylvania, Phoenix, and Southern New Jersey, with significant capital to deploy for new development projects that deliver value to investors, said a media release from the Chicago-based industrial real estate company focused on the acquisition, development, and management of modern logistics properties.
LPC launched its inaugural develop-to-core venture in August 2019, raising $1 billion of equity commitments from global institutional investors (Venture I) and LPC.
LPC has fully allocated Venture I's equity to projects representing more than 20 million square feet across the United States.
"The successful capital raised for Venture II speaks to the opportunistic industrial real estate market and the strong develop-to-core strategy offering investors the ability to own Class A industrial facilities in tier one locations at an attractive basis," said LPC's CEO Jim Martell.
Similar to Venture I, Venture II's execution strategy is to buy well-located property in U.S. markets, develop Class A industrial buildings to modern specifications, including k...................... To view our full article Click here
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