CIP Real Estate Raises $300M from Almanac Realty Targeting SoCal Industrial Markets

CIP Real Estate is excited to announce a momentous milestone in its partnership with Almanac Realty Investors. With a remarkable second capital allocation of $300 million, courtesy of Almanac Realty Investors, CIP Real Estate is poised to embark on an ambitious expansion plan. As part of this strategic move, the focus will be on acquiring industrial parks and truck logistics facilities across the Southeast, Texas, and the West Coast, including high-potential sub-markets in Southern California.

This latest capital infusion is a testament to the extraordinary growth exhibited by CIP Real Estate. Building upon the $380 million investment made in 2019 by a previous fund, Almanac will now commit up to an impressive $680 million in capital. This vital injection of funds will fuel CIP's development as a leading force in the real estate industry, backed by a formidable institutional investment partner.

CIP Real Estate's Impressive Portfolio Expansion

Over the span of just a few years, CIP Real Estate has achieved an extraordinary feat, steadily accumulating a remarkable portfolio of industrial assets. Since partnering with Almanac in October 2019, the company has strategically amassed over $1.15 billion worth of properties in major markets across the United States.

These prime locations include bustling cities such as Atlanta, Charlotte, Tampa, Dallas, the Inland Empire, and the East Bay. Notably, CIP has overseen the construction of approximately 500,000 square feet of brand-new spaces in Atlanta and Charlotte. This significant endeavor alone amounts to an impressive value of over $88 million.

A testament to their ambition, CIP Real Estate has recently taken their expansion ventures to two new destinations. The first is a substantial 352,300-square-foot industrial and technology park in Fremont, California. The second is a 180,400-square-foot project in Tampa, Florida, marking their third acquisition in this flourishing market. These two remarkable additions to their portfolio came with a combined price tag of $131 million.

Undeterred by market challenges, including the ongoing pandemic and the rapid rise in interest rates, CIP Real Estate's CEO, Eric Smyth, expresses unwavering confidence in their team's ability to thrive. With gratitude towards Almanac's unwavering faith in their firm, Smyth shares their ambition to double their portfolio to over $2.5 billion within the next two or three years.

A Successful Partnership Revolutionizing the Industrial Sector

Almanac, a leading investment firm, has recently praised the exceptional management prowess of the CIP team. Their unparalleled track record in the small and mid-bay industrial sector has left a lasting impression on Almanac's Managing Director, David Haltiner.

Throughout the past four years, CIP has consistently demonstrated their ability to acquire highly coveted assets at favorable prices. Not only that, but they have also showcased their expertise in executing intricate business plans with precision. Their dedication to excellence has propelled them to the forefront of the industry.

Enthused by their outstanding performance, Almanac is eager to strengthen their partnership with CIP and has pledged a substantial capital commitment. This bold move reflects the confidence and trust that Almanac places in CIP's capability to drive transformative growth in the industrial sector.