(Mark Your Calendars: RealShare REAL ESTATE 2012, March 22nd in Los Angeles).
LOS ANGELES-The national industrial portfolio owned by privately held real estate investment firm Hackman Capital, Calare Properties Inc. and KBS Real Estate Investment Trust is facing revitalization as a result of a recently formed partnership between OCM NIP JV Holdings LP—an indirect subsidiary of investment funds managed by global investment management firm Oaktree Capital Management LP—and the portfolio’s owners.
According to John Brady, global head of real estate for Oaktree, infused capital will help fund “several exciting redevelopment projects” within the portfolio that will bolster the company’s leasing efforts.
Hackman Capital, Oaktree, Calare and KBS could not be reached by GlobeSt.com to elaborate on the projects and their scope. Michael Hackman, CEO of Hackman Capital, says the company plans to continue leasing the properties aggressively across the country, with developments currently underway in Massachusetts, New Hampshire and Texas.
Originally acquired in August 2007, the portfolio consists of than 11 million square feet of net rentable space. Most of these properties are situated in key New England distribution markets, but the portfolio also includes properties in New York, Pennsylvania, Colorado and Texas. Hackman Capital and Calare Properties will continue to manage the portfolio. Hackman currently manages for its affiliates more than 14 million square feet of real estate across the US, including 50 buildings and 950 acres of developable land.
Despite a sluggish economy, the portfolio was able to garner more than 2.6 million square feet of new and renewed leases in 2011. Current tenants in the portfolio include Lego, Home Depot, Staples, Coca-Cola, Kraft, Regency Transportation, Nanocomp Technologies, Regal Services, USPS and Macy’s.
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