IP Capital Poised to Acquire $375M in Assets

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

"The confidence our investors have in IP Capital can be attributed to our team's demonstrated ability to successfully reposition assets to maximize value and deliver exceptional returns,” says Jason Isaacson, co-founding partner and president of IP Capital. He anticipates a subsequent closing that will bring the fund's total equity capitalization to $30 million. IP Capital launched the fund in the first quarter of 2013 and is on track to exceed its fundraising goal of $25 million by year's end.

Through joint investments with co-investors and acquisition financing, the fund will leverage its equity into $375 million of buying power. The fund will target institutional-quality office, retail, and industrial properties located in Florida's largest growth markets-South Florida, Tampa, Orlando, and Jacksonville. Value-add and opportunistic acquisitions and recapitalization opportunities are the primary target.

The firm's principals bring more than 25 years of combined commercial real estate investment and management experience, including tenures with prominent institutions such as Archon Group (a Goldman Sachs company), LNR, and Booz Allen. With their exclusive focus on Florida real estate over the past 11 years, IP Capital also promotes a competitive local advantage to sourcing and managing commercial real estate in Florida.

“We continue to see strong signs of economic growth and investment opportunities abound-largely due to improper capitalization,” says Josh Procacci, Chief Investment Officer at IP. “We are eager to put our capital to work and are currently pursuing millions of square feet of potential assets throughout Florida that align with our investment strategy."