Home AEC Logistics Property Co. Closes $1 Billion Develop-To-Core Industrial Real Estate Fund

Logistics Property Co. Closes $1 Billion Develop-To-Core Industrial Real Estate Fund

Prologis, Industrial

International Institutional Investors Support Dynamic Logistics Real Estate Industry During Global Pandemic

CHICAGO–Logistics Property Company, LLC (LPC), today announced the successful closing of its develop-to-core fund, LPC Logistics Venture One, LP (the “Fund”), with total equity commitments of $1 billion from several global institutional investors. The Fund focuses on ground-up industrial development opportunities across the U.S.

Launched in early 2018, LPC is an active best-in-class logistics developer across tier one markets nationally. It has already allocated approximately 90 percent of the Fund with significant positions in Atlanta, Chicago, Dallas, Houston, Seattle, and Pocono, Pa.

“The successful LPC capital raise speaks to the confidence global investors have in the industrial sector’s strong underlying fundamentals. It also demonstrates their conviction in LPC’s ability to identify attractive risk-adjusted return development opportunities, and execute our develop-to-core strategy across a portfolio of state-of-the-art, logistics assets,” said LPC’s Chief Executive Officer, Jim Martell.

“LPC’s leadership team boasts an average of more than 25 years of experience in local markets across the logistics real estate industry—offering expertise, diligence and deep-rooted relationships—which fortify our ability to successfully execute our strategy, and achieve the desired results for our customers, investors and communities,” Martell added.

LPC’s development strategy will deliver its customers state-of-the art logistics facilities and will offer its investors ownership of assets generating long-term income in key US markets. At the same time, these development projects create jobs and provide support for the communities in which LPC operates.

MIRA Real Estate, part of Macquarie Group (“Macquarie”) and the majority shareholder of LPC, acted as exclusive financial advisor and placement agent on the Fund.

“For Macquarie, the investment in LPC is part of our global strategy to partner with high-quality real estate managers, operators and developers to deliver ongoing growth in their businesses,” said MIRA Real Estate’s Head of the Americas and Senior Managing Director, Eric Wurtzebach.

In addition to successfully completing our develop-to-core capital raise during the global pandemic, LPC continues to enhance its commitment to Environmental, Social, and Governance (ESG), as well as expand its equity, diversity and inclusion (EDI) platform. LPC’s current workforce is comprised of more than 40 percent female and minority team members. The company is also expanding its inclusion of minority and women-owned contractors and sub-contractors, as it continues to conduct business with exceptional talent representing a rich tapestry of diverse backgrounds.

About Logistics Property Co.

Logistics Property Company, LLC (LPC) is a logistics real estate platform focused on the acquisition, development, and management of state-of-the-art logistics properties in key North American markets. The management team of LPC partnered with MIRA Real Estate – part of the Macquarie Infrastructure and Real Assets division of Macquarie – on the formation of the platform. LPC currently manages properties in key logistics markets including Atlanta, Chicago, Dallas, Houston, Kenosha, Mount Pocono, and Seattle-Tacoma with an estimated end-value of over $1.5 billion. Headquartered in Chicago, LPC has offices in Atlanta, Baltimore-Washington, Dallas, Houston, Los Angeles, and Seattle.

About MIRA Real Estate

MIRA Real Estate is a global real estate manager and investor with an extensive network and capability across listed and unlisted funds, asset management, real estate platform and direct investment and private capital markets transactions services. MIRA Real Estate has a global network of over 210 people in 24 markets and, as at March 31, 2020, managed assets of over $17 billion (including proportionate share of investee real estate platforms) across a portfolio of more than 500 office, logistics, retail and residential assets.

MIRA Real Estate is part of Macquarie Infrastructure and Real Assets (MIRA), one of the world’s leading alternative asset managers. As March 31, 2020, MIRA managed $132 billion in assets, including over 150 portfolio businesses, approximately 500 properties and 4.8 million hectares of farmland.