Logistics Property Company Closes on Industrial Real Estate Venture

Logistics Property Company, LLC (LogiPropCo) has closed a value-add joint venture with a large U.S. public pension fund.

This value-add venture is the company’s third venture with institutional investors since its founding in 2018. LogiPropCo’s first two ventures, which raised approximately $3 billion of total capital from leading global institutional investors, focused on logistics facilities across the U.S. In the past eight years, the company has developed approximately thirty million square feet across 14 key markets.

As part of the firm’s strategy to expand its acquisition business, LogiPropCo bolstered its team by hiring two senior acquisitions professionals. Mark Crawford, who previously served as head of acquisitions for Duke Realty before Prologis acquired the firm, leads the East Region, and Joel Wicks, who served as principal of industrial acquisitions at Ares, leads the West Region.

With this venture, the company is targeting acquisitions of existing properties in several key markets, with a focus on identifying properties that offer opportunities for rehabilitation, redevelopment, covered land, mark-to-market lease-up, and vacant lease-up.