LOS ANGELES—Sitex Group, a fully integrated private equity firm specializing in industrial real estate investments, has opened its third US office and first West Coast office in Manhattan Beach, CA. To lead the office operations, the firm has hired Eric Ruehle as SVP.

“With a proven track record in the Northeast and Midwest, it was only a matter of time before we entered the Southern California market,” says Brian Milberg, partner at Sitex Group. By entering the West Coast market, the company hopes to build relationships and diversify its portfolio through the acquisition of industrial properties in this market. “There are natural synergies between tenants and their respective supply chain requirements in major markets where we are actively acquiring property,” Milberg adds.

At Sitex Group's L.A. office, Ruehle will leverage his experience to oversee sourcing and negotiate and acquire industrial properties throughout the Southern California region. “Southern California's strong supply and demand fundamentals, along with positive long-term trends and outlook, provide a stable environment for investment,” says Ruehle, who brings 10 years of experience in the industrial sector to the company. He previously worked as VP of investments for CenterPoint Properties and has acquired and developed over $400 million in industrial properties in his career.