When combined with AMB's equity investment of $50 million and debt financings of up to $150 million, the committed capitalization of the partnership will total approximately $250 million. AMB's equity was funded through a contribution of industrial properties, including one facility currently under development.
The venture will invest in High Throughput Distribution™ facilities serving customers that are expediting goods through the supply chain, according to a prepared statement released by AMB this week. As a general partner, AMB will receive distributions for acquisitions, asset management and developments.
AMB says the partnership is consistent with its investment strategy of acquiring, developing distribution facilities in major U.S. cities near airports, ports and key interstate highways.
CCSFERS is a pension fund with $12 billion of assets under management. AMB, an owner and operator of industrial real estate throughout the nation, controls more than 90 million sf in 1,005 buildings in 27 metropolitan areas.
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