CHICAGO--(BUSINESS WIRE)--Logistics Property Company, LLC (LPC), a newly formed logistics real estate platform focused on the acquisition, development and management of modern logistics properties in key North American markets today announced its launch. The management team of LPC has partnered with Macquarie Capital Real Estate Investments (MREI) on the formation of the platform. LPC seeks to grow its business to more than $5 billion of properties under management over the next five years to become a leading developer and operator of logistics facilities and occupancy solutions in North America.
“We are thrilled to embark on this new journey to grow LPC into a leading North American platform,” said LPC Chief Executive Officer James Martell, formerly the President and Founder of Ridge Development (Ridge). “It is an exciting time for the US industrial sector. The growth in e-commerce, increasing globalization of trade and supply chain reconfiguration are driving record tenant demand and rental growth. Together with our partners, we hope to provide state-of-the-art logistics facilities and best-in-class occupancy solutions for our tenants.”
LPC has begun managing properties in key logistics markets, including Dallas, Houston and Chicago, with an estimated end-value of over $600 million to date. In addition, LPC anticipates closing on properties in Los Angeles, Seattle, Indianapolis and Pennsylvania this year, as part of a development pipeline of approximately 18 million square feet. The company is targeting leading industrial markets across the US with strong demographics and significant in-place infrastructure, as well as select tier two markets with strategic growth value.
In addition to Martell, LPC is led by an experienced management team including several former senior executives of Ridge. Together, the LPC management team averages over 25 years of experience and has developed more than 17 million square feet since 2014 with its institutional partners:
- Aaron Martell, Midwest Region Executive Vice President, formerly with Ridge;
- Dennis Rice, West Region Executive Vice President, formerly with Ridge;
- Kent Newsom, South Region Executive Vice President, formerly with Ridge;
- Bob Wheless, South Region Senior Vice President, formerly with Opus West;
- Mark Skinner, Chief Financial Officer, formerly with Lendlease;
- Mike Ruen, East Region Executive Vice President, formerly with DCT;
- Jay Mitchell, Senior Vice President, Atlanta Market Leader, formerly with DCT;
- Mark Sabatino, Senior Vice President, Asset Management formerly with Deutsche Asset Management/RREEF; and
- Jude Fitzgerald, Chief Marketing Officer, formerly with Macquarie Real Estate.
“We see a great opportunity in partnering with the LPC team to form a North American logistics operating company with strong development capabilities,” said Eric Wurtzebach, Head of Americas, Macquarie Capital Real Estate Investments. “We are pleased to expand our global logistics footprint into North America with the formation of LPC. North American logistics real estate continues to attract strong demand, and we look forward to growing the business together with our new partner.”
Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, and Los Angeles with office openings slated for Philadelphia, Miami and Seattle.
About Logistics Property Co.
Logistics Property Company, LLC (LPC) is a logistics real estate platform focused on the acquisition, development and management of state-of-the-art modern logistics properties in key North American markets. LPC currently manages properties in key logistics markets including Dallas, Houston and Chicago with an estimated end-value of over $600 million. Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, and Los Angeles with office openings slated for Philadelphia, Miami and Seattle.
About Macquarie Capital Real Estate Investments
MREI is Macquarie Capital’s real estate principal investment and private capital advisory business. It is an integrated global business that creates, invests in and advises specialist real estate platforms in sectors supported by structural tailwinds. The group currently has investments in nine operating platforms across the globe with over $15 billion in assets under management, including Asia-Pacific logistics specialists Logos Property Group and United Kingdom logistics specialists Peel Logistics Group.