Ambrose Raises Over $400M for Fourth Real Estate Fund
Ambrose held the final close of its fourth real estate fund, Ambrose Fund IV, LP (Ambrose IV), at $400.625 million through equity commitments and related vehicles.
Ambrose IV, the largest fund to date from the Indianapolis-based firm, will focus on speculative and build-to-suit development, as well as acquisitions of Class A industrial, logistics, and e-commerce assets across the U.S., primarily in the Midwest, Mountain States, and Southeast. The fund is approximately 50% deployed, with a strong pipeline of new developments and acquisitions.
The fund’s investor base includes public pension funds (Indiana Public Retirement System), insurance companies and family offices, such as Jordan Park.
Ambrose IV has initiated construction on 12 projects across Florida, Louisiana, Indiana, and Ohio, and acquired a cash-flow-generating three-building portfolio in Denver, offering near-term value creation opportunities. Additionally, the fund has secured four land positions in Ohio and Indiana at an attractive, below-market land basis, which have the potential to support six more development projects.
“Our fund strategy is supported by compelling secular tailwinds, including the increasing absorption of the glut of pandemic-era industrial development; decreasing new construction due to high interest rates and capital constraints; and consistently growing demand for efficient, well-located Class A industrial, logistics and e-commerce product,” said Aasif Bade, founder and CEO of Ambrose.
Since its founding in 2008, Ambrose has completed $2.9 billion in industrial assets since 2020 comprising 61 projects and 19.4 million square feet.
Hodes Weill Securities acted as financial advisor and placement agent for Ambrose in connection with the formation and capitalization of the fund. Goodwin Procter, LLP served as legal advisor.
