Logistics Property Company closes second develop-to-core fund with $1.8b commitments

LPC Logistics Venture II, the second develop-to-core fund managed by Logistics Property Company, has closed with $1.8 billion of total equity commitments. The capital for the fund was provided by several global institutional investors and LPC, in the form of a co-investment.

LPC said a number of investors from Venture I also committed to Venture II, along with several new major institutions. LPC launched its inaugural develop-to-core venture in August 2019, raising $1 billion of equity commitments from global institutional investors and LPC.

The successful capital raise 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 1 locations at an attractive basis,” said Jim Martell, CEO of LPC.

Both Venture I and Venture II will seek to acquire well-located property in U.S. markets; develop class A industrial buildings to modern s