Joining Circ and Wenaas on the leadership team is CFO Michelle Mussafi, formerly of Colony Capital, and Portfolio Manager Gary Kroll, who has managed GID’s industrial investments for the last 20 years. “GID has been investing in infill locations for the last 60 years, and GID Industrial will target assets that benefit from the continued strength and evolution of supply chains, especially as online spending shows no sign of slowing.” “Supply chains that support online sales must evolve to accommodate the demand for faster delivery times, requiring more warehouse space closer to the consumer,” according to Rene Circ, Senior Managing Director and Chief Operating Officer of GID Industrial. The combined portfolio stands at 19 million square feet in 15 markets across the country. GID Industrial will focus on acquiring, developing, and managing infill industrial product in locations near dense residential and employment nodes in close proximity to the end customer. “Our partnership with GID is perfectly aligned with Ivanhoé Cambridge’s investment strategy and positions us to accelerate the execution of our urban infill light-industrial strategy in the US and continue to create value for our stakeholders in this highly competitive environment going forward.” “GID Industrial, with strong shared corporate values as well as a proven and seasoned management team, will complement our existing IDI Logistics big-box build-to-core strategy,” says Mario Morroni Executive Vice President, Industrial, North America of Ivanhoé Cambridge. Led by Rene Circ and Mike Wenaas, the platform will target industrial assets in growing markets across the United States. GID, a leading integrated real estate company active in the industrial sector since 1986, announced today the creation of GID Industrial, an investment platform formed with global real estate investor Ivanhoé Cambridge. Platform consists of $2 billion gross Assets Under Management spanning 173 buildings and 19 million square feet plus additional capital for new investments GID FORMS INDUSTRIAL PLATFORM WITH IVANHOÉ CAMBRIDGE TO CAPITALIZE ON LONG-TERM DEMAND GROWTH IN URBAN INFILL INDUSTRIAL SECTOR
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |