ICM Announces Second Distribution for U.S. Co-Investment Real Estate LP II
(January 2026 – Calgary, Alberta) ICM Asset Management (“ICM”) is pleased to announce a second distribution to investors in ICM U.S. Co-Investment Real Estate LP II (USCI II), reflecting continued progress across the fund’s portfolio and the successful execution of its U.S. co-investment strategy.
Following the sale of Mack Innovation Park Phase I in Phoenix, Arizona – comprising three newly constructed Class A industrial buildings totalling 332,479 square feet – the fund generated proceeds that enabled a distribution of approximately 17% of investors’ initial capital contribution.
This marks the second distribution to USCI II investors and reflects the fund’s continued shift towards returning capital through the select disposition of investments that have successfully achieved stabilization. Multiple additional assets across the portfolio continue to advance through their respective business plans, with the objective to stabilize before assessing options to maximize value creation.
“This distribution represents a meaningful step in selectively realizing upon the value created within the USCI II portfolio, generating tangible outcomes for our investors. With several projects now completed or nearing completion, USCI II is increasingly focused on execution, stabilization, and capital return through refinancing or opportunistic sales. We believe the portfolio is well positioned to continue delivering on our objectives.”
-John Courtliff, CEO & Portfolio Manager at ICM Asset Management
As USCI II progresses into capital return mode – and with USCI I fully realized – ICM is now in the final quarter of capital raising for ICM U.S. Co-Investment Real Estate III LP (USCI III), the third vintage of its U.S. co-investment strategy.
Next Vintage: ICM U.S. Co-Investment Real Estate LP III
Following on the success of its predecessors, USCI III is a private limited partnership focused on opportunistic acquisition, development, leasing and stabilization of high-quality real estate assets across the U.S. Sun Belt, targeting markets supported by long-term population growth, employment expansion, and pro-business fundamentals. With prior vintages advancing through realization, USCI III represents an opportunity to invest in ICM’s successful U.S. co-investment platform ahead of the fund’s anticipated final closing.