PALM BEACH, FL—IP Capital Partners, a BocaRaton-based private real estate investment and asset managementfirm, has closed on its inaugural fund. IPCP Florida Realty ValueFund I, L.P. raised $22.1million of capital commitments.

"The confidence our investors have in IP Capital can beattributed to our team's demonstrated ability to successfullyreposition assets to maximize value and deliver exceptionalreturns,” says Jason Isaacson, co-founding partnerand president of IP Capital. He anticipates a subsequent closingthat will bring the fund's total equity capitalization to $30million. IP Capital launched the fund in the first quarter of 2013and is on track to exceed its fundraising goal of $25 million byyear's end.

Through joint investments with co-investors and acquisitionfinancing, the fund will leverage its equity into $375 million ofbuying power. The fund will target institutional-quality office,retail, and industrial properties located in Florida's largestgrowth markets-South Florida, Tampa, Orlando, and Jacksonville.Value-add and opportunistic acquisitions and recapitalizationopportunities are the primary target.

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