AIC Ventures launches $300m RE fund

The Austin, Texas-based sale-leaseback firm has begun investing its sixth fund.

AIC Ventures has launched its sixth real estate-focused fund, the $300 million (€228 million) NL Ventures VI.

The fund recently completed its first acquisition – the purchase of the Ft. Lauderdale, Florida facilities of New River Cabinet & Fixture. As with all the properties to be acquired for the fund, the real estate was leased back to the tenant, who will retain operational control.

“This type of financing effectively turns a company’s bricks and mortar into working capital,” partner Dave Robshaw said in a statement.

NL Ventures VI will build a portfolio of 25 to 35 properties that are valued between $4 million to $45 million.

AIC Ventures invests in single tenant, net leased office, and industrial and warehouse real estate in the US.

The firm has closed transactions worth more than $700 million through 50 private partnerships and six funds; it has acquired more than 11 million square feet of commercial real estate via its funds.