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Principal, Pantheon in $400M Industrial JV

NEW YORK CITY-Principal Investors and Pantheon Properties enter into a $400-million agreement to target acquisitions across the Northeast and Mid-Atlantic regions.

By Natalie Dolce | Updated on June 25, 2007

(Read more about Natalie Dolce.)

NEW YORK CITY-Pantheon Properties, a locally based, full-service owner and operator of industrial properties, has entered into a joint venture with Principal Real Estate Investors, the real estate investment group of Des Moines-based Principal Global Investors.

When leveraged, Equity commitments made by Pantheon and Principal, will enable the venture to acquire approximately $400 million in value-added, industrial/flex properties in New York, New Jersey, Pennsylvania, Maryland and Delaware. Property size targets for this joint venture will range from 100,000 sf to 1,000,000 sf., according to a statement made by Pantheon Properties.

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