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Inland Empire Garners Portion of LPC’s $1.8B Fund
Logistics Property Company (LPC) has closed its second develop-to-core fund, LPC Logistics Two LP (Venture II) with total equity commitments of $1.8 billion. To date, 35% has been allocated to investments in several regions of the U.S., including the Inland Empire.
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 CEO Jim Martell.
Venture II’s execution strategy is to buy well-located property, develop Class A industrial buildings to modern specs, stabilize the assets and assemble a geographically diverse portfolio.
So far, the Inland Empire is the only California region to tap into the fund. Venture II has closed on the land for a new 341,000-square-foot warehouse development in San Bernardino, CA, with construction slated to start second quarter of 2023.
- ◦Development
- ◦Financing
