December 16, 2020
Logistics Property Company LLC (LPC) today announced the successful closing of its develop-to-core fund, LPC Logistics Venture One LP, with total equity commitments of $1 billion from several global institutional investors. The fund focuses on ground-up industrial development opportunities across the U.S.
Launched in early 2018, LPC is an active logistics developer across tier-one markets nationally. It has already allocated approximately 90% of the fund with significant positions in Atlanta, Chicago, Dallas, Houston, Seattle, and Pocono, PA.
“The successful LPC capital raise speaks to the confidence global investors have in the industrial sector’s strong underlying fundamentals,” said CEO Jim Martell. “It also demonstrates their conviction in LPC’s ability to identify attractive risk-adjusted return development opportunities, and execute our develop-to-core strategy across a portfolio of state-of-the-art, logistics assets.”
MIRA Real Estate, part of Macquarie Group and LPC’s majority shareholder, acted as exclusive financial advisor and placement agent on the fund.
Pictured: LPC’s 3711 S. Ashland Ave. in Chicago.
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