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September 22, 2021
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Integrated Capital Management Launches Fourth Investor Offering

9/13/21

Integrated Capital Management (ICM) has launched Integrated Realty Capital II LP, its fourth investor offering and latest diversified commercial real estate private equity fund. The new fund targets light value-add to opportunistic commercial real estate investments across the United States in all asset classes, including student housing, workforce and affordable housing, office, industrial, retail, multifamily, self-storage, senior living, and select drive-time demand limited-service hospitality. ICM is a private investment management firm founded by real estate finance veterans John Carrick and Robert Lindner.

(L - R): John Carrick and Robert Lindner
(L - R): John Carrick and Robert Lindner
The fund anticipates raising a minimum of $50 mil and, similar to its predecessor vehicle, will primarily target GP or sponsor equity investments averaging approximately $3 mil to $5 mil per each $50 mil to $250 mil single-asset or portfolio investment opportunity, which results in an aggregated estimated $1.5 bil in total capitalization. Shamrock Holdings Inc, which serves as the investment vehicle for certain members of the Roy E. Disney Family, is one of ICM’s returning investors and is a member of the fund’s investment committee.

ICM’s lead investment in the fund is an existing 29-key oceanfront hotel located at 34862 Pacific Coast Highway in Dana Point, directly across from the sands of Doheny State Beach. The oceanfront property will undergo a full renovation and rebranding in order to create an authentic California luxury boutique hotel experience. The hotel is situated on approximately one acre of irreplaceable oceanfront land in Dana Point’s Capistrano Beach neighborhood and, when completed, will offer its guests beautifully appointed guestrooms including first floor rooms with ocean views and private patios and second floor rooms featuring panoramic ocean views and balconies.

To acquire the distressed hotel asset out of receivership alongside its local operating partner, ICM quickly embarked on a soft launch of the fund, raising approximately $14 mil from returning investors in just three weeks, including large family offices, registered investment advisors, and high-net-worth individuals.

“Acquiring an irreplaceable beachfront property in Southern California at an incredible cost basis is a great way to kickstart our new fund,” noted Carrick, managing principal and co-founder of ICM. “In addition to this initial investment, we also invested in an affordable housing portfolio program in the Midwest. This is truly a double bottom-line ESG investment, as it is forecasted to generate a significant return to the fund while providing much needed affordable housing to families in that market. We expect these investments, as well as the additional investments in our pipeline, to generate significant returns for the fund and interest from new investors as we look to expand our investor base.”





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