IP Capital Partners is gearing up for its next wave of acquisitions, with a focus on distressed and value-add commercial properties, after completing the initial closing of IPCP Florida Realty Value Fund IV LP. The initial closing yielded $95.4 million in equity to target industrial and office assets in the southeastern U.S., with an emphasis on Florida. The firm aims to increase the fund size to $125 million over the next 12 months.
Through joint ventures and leverage, IP Capital plans to acquire over $900 million worth of real estate in its target geography and asset classes.
“The Southeast’s booming population has raised demand for regional distribution centers, and increased global trade has made space near ports more valuable,” said IP’s Jason Isaacson.
Seventy percent of funds will be allocated to industrial properties in Florida, the Carolinas, Tennessee and Georgia, and the remainder will be divided equally between Florida office and medical office buildings.