ICM raises over $30 mln for inaugural real estate PE fund


Integrated Capital Management has closed its debut real estate private equity fund fund at over $30 million. Integrated Realty Capital I LP will make commercial real estate investments across the U.S. in all asset classes including office, industrial, retail, multifamily, self-storage, senior living, student housing and hospitality. The fund’s investors include large family offices, registered investment advisers, high-net-worth individuals and foreign capital sources.

PRESS RELEASE

LOS ANGELES, CA (April 8, 2019) – Integrated Capital Management (“ICM”), a private investment management firm founded by real estate finance veterans John Carrick and Robert Lindner, officially announces the closing of its inaugural real estate private equity fund – Integrated Realty Capital I LP – on an oversubscribed basis with more than $30 million in equity commitments (“Fund”). The discretionary GP Fund targets light value-add to opportunistic commercial real estate investments across the United States in all asset classes including office, industrial, retail, multifamily, self-storage, senior living, student housing and hospitality.

The Fund’s diverse base of investors include several large family offices, registered investment advisors, high-net-worth individuals and foreign capital sources. The Fund targets GP or Sponsor equity investments averaging approximately $1 million to $3 million per asset, and anticipates a portfolio size of approximately $1.5 billion in total capitalization. To date, the Fund is 30 percent committed with a current asset mix of multifamily, condominium, office and retail in primary and secondary markets.

“We are pleased to have successfully closed our first discretionary GP fund on an oversubscribed basis,” said John Carrick, managing principal and co-founder of ICM. “It is gratifying to receive a strong vote of confidence from such a variety of significant private wealth relations, and we very much appreciate their trust.” He added, “The Fund’s participation in sponsor profits, ability to secure off-market opportunities through its advisory relationships, and investment alongside institutional equity sources combined to make our offering truly one-of-a-kind.”

Shamrock Holdings, Inc. (“Shamrock”), which serves as the investment vehicle for certain members of the Roy E. Disney Family, was one of the Fund’s seed investors. “We have a longstanding relationship with John and Robert and value their industry expertise,” said Greg Martin, president of Shamrock. “They have been trusted advisors to us over the years, and we are pleased to participate as a lead investor in their debut fund.”

Robert Lindner, managing principal and co-founder of ICM, added, “The Fund is designed to provide sponsors with a discretionary single-source alternative to the traditional time-consuming GP syndication process that often distracts them from their primary business. Integrated’s experience, in combination with the Fund’s committed capital and discretion, allows us to move quickly and to structure creative solutions to our partners’ capital challenges. Our goal is to identify best-of-class sponsors in different asset classes and geographic markets, and to empower them with the equity needed to control great projects and scale their platforms.”

About Integrated Capital Management
Integrated Capital Management (“ICM”) is a Los Angeles-based investment management firm. Founded by real estate finance veterans John Carrick and Robert Lindner, ICM helps accomplished owners, operators, and developers of commercial properties scale their platforms and assets under management on a national basis by offering strategic co-investment capital. Principal investments are capitalized through the firm’s discretionary private equity fund, Integrated Realty Capital I LP, and are generally structured as co-GP/sponsor equity, joint venture equity, preferred or common equity.

In addition, ICM is able to access LP equity, senior debt or structured investment through its affiliated investment banking platform, Integrated Realty Advisors, as well as through the firm’s extensive network of family offices, registered investment advisors, high-net-worth investors, foreign capital sources and private wealth relationships. By providing both advisory services and direct investment capabilities, ICM offers sponsors a comprehensive capital solution whose financial interests are fully aligned.

ICM’s seasoned leadership team has a distinct skill set with substantial experience across the full spectrum of assets classes, geographic markets and economic cycles. For more information, visit www.integratedcm.com.