CIP Real Estate has entered into an agreement with a fund managed by Almanac Realty Investors to provide up to $300 million of growth capital to CIP to accelerate its proven investment strategy of acquiring value-add, multi-tenant industrial properties in select markets in the United States.
According to Eric Smyth, CEO of CIP, “We are excited to establish this relationship with Almanac and partner with such an accomplished investor. With Almanac’s capital commitment and partnership, CIP will be a much stronger buyer in the market. We intend to continue CIP’s proven approach on a larger scale.”
Based in Irvine, Calif., CIP is a vertically integrated real estate company led by Eric Smyth, Robert Strom and Michael McGlone. CIP has been a leader in the multi-tenant industrial property market for over 25 years. CIP pursues a vertically integrated investment strategy involving acquisitions, asset management, leasing, repositioning and, in some cases, development.
