LIP Invest, a provider of special logistics real estate funds in Germany, has completed the first closing of its newly launched LIP Real Estate Investment Fund — Logistics Germany IV fund, with €135 million ($142 million) of equity commitments.
LIP Real Estate Investment Fund — Logistics Germany IV has a capital target of €250 million ($263 million) and a target volume of €500 million ($526 million), according to the firm. Additional investors are planning subscriptions of €70 million ($74 million). The fund already has acquired four properties and secured four more through an exclusivity agreement.
The investor base consists of insurance companies, pension schemes, pension funds, banks, savings banks and foundations.
Like its predecessor funds, the core-investment vehicle focuses exclusively on the German market and will invest in high-quality existing buildings as well as new buildings in established locations for logistics-related uses with a long
