Logistics Property Co. closes US$1B Develop-To-Core fund | FI SENSE

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Logistics Property Company, LLC (LPC), announced the successful closing of its develop-to-core fund, LPC Logistics Venture One, LP (the “Fund”), 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 best-in-class logistics developer across tier one markets nationally. It has already allocated approximately 90 percent 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. 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,” said LPC’s Chief Executive Officer, Jim Martell.

“LPC’s leadership team boasts an average of more than 25 years of experience in local markets across the logistics real estate industry—offering expertise, diligence and deep-rooted relationships—which fortify our ability to successfully execute our strategy, and achieve the desired results for our customers, investors and communities,” Martell added.

LPC’s development strategy will deliver its customers state-of-the art logistics facilities and will offer its investors ownership of assets generating long-term income in key US markets. At the same time, these development projects create jobs and provide support for the communities in which LPC operates.

MIRA Real Estate, part of Macquarie Group (“Macquarie”) and the majority shareholder of LPC, acted as exclusive financial advisor and placement agent on the Fund.

“For Macquarie, the investment in LPC is part of our global strategy to partner with high-quality real estate managers, operators and developers to deliver ongoing growth in their businesses,” said MIRA Real Estate’s Head of the Americas and Senior Managing Director, Eric Wurtzebach.

In addition to successfully completing our develop-to-core capital raise during the global pandemic, LPC continues to enhance its commitment to Environmental, Social, and Governance (ESG), as well as expand its equity, diversity and inclusion (EDI) platform. LPC’s current workforce is comprised of more than 40 percent female and minority team members. The company is also expanding its inclusion of minority and women-owned contractors and sub-contractors, as it continues to conduct business with exceptional talent representing a rich tapestry of diverse backgrounds.

 

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