The global investment firm, Arcapita Group Holdings and US real estate investment firm, Arden Group to invest $800 million in Real Estate joint venture to acquire multi-tenant industrial properties in United States.
The joint venture is targeting in-fill warehouses which have experienced very low new supply due to the limited availability of undeveloped land near urban centres. With growing demand across the logistics spectrum, rent growth for the multi-tenant sub-sector is expected to continue. The joint venture’s technology-enabled operating platform aims to disrupt the decentralised, local ownership groups that characterise this asset class.
The Chief Executive Officer of Arcapita, Atif A. Abdulmalik, said:
“This joint venture is part of our broader industrial real estate strategy, having completed roughly $5.5 billion in industrial and logistics real estate transactions globally for nearly twenty years. We are pleased to partner with Arden and provide our investors with this highly diversified portfolio.”
The Managing Director and Head of Arcapita’s US Real Estate team, Brian Hebb said:
“The overall US industrial market is driven by powerful long-term tailwinds and sustained capital inflows, generating growing investor demand in the multi-tenant sub-sector,” “The aggregation plans for this joint venture will allow us to build a sizeable market share within a highly fragmented sector. We look forward to combining Arcapita’s long-standing presence in global industrial real estate with Arden’s best-in-class management team to grow this platform over the long term.”
