Ambrose, a company focused on the industrial, logistics, and e-commerce real estate sector, has marked a milestone with the final close of its Ambrose Fund IV, LP. The fund secured $400 million in equity commitments, making it the largest in Ambrose's history. This achievement underscores the company's evolving investor base, which now includes a diverse array of public pension funds, such as the Indiana Public Retirement System, insurance companies, and family offices like Jordan Park.
The Ambrose Fund IV is set to focus on speculative and build-to-suit development, as well as acquisitions of high-quality industrial, logistics, and e-commerce assets across the United States. The primary regions of interest include the Midwest, Mountain States, and the Southeast. Notably, the fund is already approximately 50% deployed, with a robust pipeline of new developments and acquisitions underway.
Construction has commenced on 12 projects spanning Florida, Louisiana, Indiana, and Ohio. Additionally, the fund has acquired a three-building portfolio in Denver, offering promising opportunities for near-term value creation. Furthermore, Ambrose has secured four strategic land positions in Ohio and Indiana at below-market rates, laying the groundwork for up to six additional development projects.
Aasif Bade, Founder and CEO of Ambrose, highlighted the significance of this achievement, particularly in the challenging current fundraising environment. He attributed the success to the strength of the company's team and its proven track record. Bade emphasized that the fund's strategy is bolstered by favorable market trends, including the absorption of pandemic-era industrial developments, reduced new construction due to high interest rates, and sustained demand for efficient, well-located Class A industrial and logistics facilities.
Given the deployment timelines, Ambrose anticipates that its investments will capitalize on anticipated decreases in supply across target markets over the coming years.
Ambrose has completed $2.9 billion in industrial assets since 2020, encompassing 61 projects and 19.4 million square feet. Ambrose also boasts a robust pipeline of strategically located and entitled land, poised to benefit from growing demand for warehousing, manufacturing, and data center space.