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IP Capital Partners is gearing up for its next wave of acquisitions, with a focus on distressed and value-add commercial properties, after completing the initial closing of IPCP Florida Realty Value Fund IV LP. The initial closing yielded $95.4 million in equity to target industrial and office assets in the southeastern U.S., with an emphasis on Florida. The firm aims to increase the fund size to $125 million over the next 12 months.