A Boca Raton-based real estate investment firm is expanding its bet on the Southeast’s industrial sector with the launch of a new fund expected to generate up to $1 billion in purchasing power across the region.
IP Capital Partners announced the formation of IPCP Southeast Industrial Fund II, L.P., its latest flagship vehicle focused on acquiring high-quality industrial properties in major growth markets throughout the Southeast United States. With the use of leverage and joint-venture equity, the fund is projected to reach approximately $1 billion in total buying capacity.
The fund is targeting $250 million in capital commitments, with a hard cap of $300 million, and has already attracted strong early interest. An initial seed round targeting $25 million closed at $37 million, exceeding expectations and reflecting continued investor appetite for industrial real estate tied to logistics, manufacturing, and distribution.
“We believe the Southeast is the strongest industrial growth engine in the country,” said co-founder and chief investment officer Josh Procacci. “Population inflows, corporate migration, and supply chain realignment, combined with low taxes and business-friendly policies, are creating durable, long-term demand for logistics space.”
The fund follows IP Capital Partners’ strategy of targeting what the firm describes as the “underfunded middle,” focusing on transactions typically valued between $15 million and $50 million. According to the company, this segment is often overlooked by large institutional investors, allowing the firm to pursue higher yields while maintaining a disciplined risk profile.
Unlike allocator-style funds, IP Capital Partners operates as both sponsor and operator, sourcing deals, executing business plans, and managing assets directly. The structure allows the firm to co-invest alongside partners and participate as a general partner in joint-venture acquisitions, aligning interests with investors.
“The early success of SEIF II shows that investors recognize this as a moment of opportunity,” said co-founder and president Jason Isaacson. “Short-term uncertainty may create pricing dislocations, but the long-term fundamentals for industrial real estate in the Southeast remain exceptionally strong.”
Founded in 2012, IP Capital Partners invests alongside institutional and high-net-worth partners, with a focus on Florida and other high-growth Southeastern markets.
