Almanac Realty Investors, a business unit of Neuberger Berman, has made an additional $300 million capital allocation to CIP Real Estate.
The new round of equity capital will be targeted for acquisitions of industrial parks and truck-logistics facilities throughout the Southeast, Texas and West Coast, including strategic Southern California sub-markets. Including an investment of $380 million made in 2019 by a prior fund, funds managed by Almanac have committed to invest up to $680 million of capital into the CIP platform as an institutional-investment partner.
Since the formation of the Almanac partnership in October 2019, CIP Real Estate has aggregated a portfolio of industrial assets totaling more than $1.15 billion in major markets, including Atlanta; Charlotte, N.C.; Tampa, Fla.; Dallas, and the Inland Empire and the East Bay in California. The total includes approximately 500,000 square feet of new construction in Atlanta and Charlotte. Most recently, CIP purchas
