“Each of these properties were acquired off-market and are highly representative of the strategy we plan to execute with Wheelock,” states Andrew Iglowski, managing partner at Seyon. “There were a number of qualitative aspects we considered when seeking a strategic partner. Wheelock's ability to move quickly and think creatively were key attributes, and we expect to significantly increase the size of our portfolio with them in the near future.”

Representatives of the newly formed partnership say the venture seeks to take advantage of increased demand for flex/industrial assets located in close-in suburban markets. Two market forces the partnership sees as fueling demand are light manufacturing and flex space users getting priced out of downtown locations, as well as e-commerce/distribution users seeking to be closer to their customers. Wheelock is targeting $100 million from its current investment vehicle, Wheelock Street Real Estate Fund V, for equity investments in the industrial sector.

“We believe there will continue to be growing demand for infill industrial assets in well located submarkets. We like the strategy of owning functional assets in amenitized near-in submarkets that have good access to transportation and the densely populated core downtowns,” states Jeffrey Laliberte, managing director & head of acquisitions at Wheelock Street Capital.

He adds, “We have worked with the principals of the Seyon Group for several years and have consistently been impressed with their ability to find attractive investment opportunities and execute on a business plan. This partnership puts us in a strong position to build a high-quality portfolio with a great team.”

The Seyon Group, formed in January by Blake, Iglowski and John Meador, all formerly of Calare Properties, is pursuing real estate investment opportunities that run the gamut from ground-up warehouse development to existing infill light-industrial assets.

“Seyon was founded with a mission of applying a forward‐thinking approach to industrial sector investment to deliver value for both tenants and investors,” Blake, managing partner at Seyon, notes. “Despite today's competitive landscape, we believe there continues to be opportunity to acquire the right product in highly desirable locations.”

Wheelock Street Capital has raised more than $2 billion in capital commitments since its formation in 2008. Wheelock Real Estate Fund V has $725 million of commitments from leading pension funds, endowments and foundations.

BOSTON—Wheelock Street Capital and the newly formed the Seyon Group have established a joint venture that is seeking to invest $300 million in industrial real estate in prime Northeast markets.

The Seyon Group, headquartered in Boston, is led by a group of former Calare Properties Inc. executives, including the Hudson, MA-based firm's former president Bryan Blake.

Wheelock Street Capital, which maintains headquarters offices in Boston and Greenwich, CT, and the Seyon Group report that the new joint venture has already purchased three properties in the Route 128 corridor in Greater Boston for a combined investment of $32 million.

The partnership has acquired 26 Dartmouth St. in Westwood, MA. The purchase of the 200,00-square-foot industrial building closed in February. The property is located near Westwood's University Station, a mixed-use retail and residential property anchored by Wegmans and Target. The partnership has also acquired a portfolio of light industrial buildings on Shawmut Road in Canton, MA totaling more than 100,000 square feet of space.

“Each of these properties were acquired off-market and are highly representative of the strategy we plan to execute with Wheelock,” states Andrew Iglowski, managing partner at Seyon. “There were a number of qualitative aspects we considered when seeking a strategic partner. Wheelock's ability to move quickly and think creatively were key attributes, and we expect to significantly increase the size of our portfolio with them in the near future.”

Representatives of the newly formed partnership say the venture seeks to take advantage of increased demand for flex/industrial assets located in close-in suburban markets. Two market forces the partnership sees as fueling demand are light manufacturing and flex space users getting priced out of downtown locations, as well as e-commerce/distribution users seeking to be closer to their customers. Wheelock is targeting $100 million from its current investment vehicle, Wheelock Street Real Estate Fund V, for equity investments in the industrial sector.

“We believe there will continue to be growing demand for infill industrial assets in well located submarkets. We like the strategy of owning functional assets in amenitized near-in submarkets that have good access to transportation and the densely populated core downtowns,” states Jeffrey Laliberte, managing director & head of acquisitions at Wheelock Street Capital.

He adds, “We have worked with the principals of the Seyon Group for several years and have consistently been impressed with their ability to find attractive investment opportunities and execute on a business plan. This partnership puts us in a strong position to build a high-quality portfolio with a great team.”

The Seyon Group, formed in January by Blake, Iglowski and John Meador, all formerly of Calare Properties, is pursuing real estate investment opportunities that run the gamut from ground-up warehouse development to existing infill light-industrial assets.

“Seyon was founded with a mission of applying a forward‐thinking approach to industrial sector investment to deliver value for both tenants and investors,” Blake, managing partner at Seyon, notes. “Despite today's competitive landscape, we believe there continues to be opportunity to acquire the right product in highly desirable locations.”

Wheelock Street Capital has raised more than $2 billion in capital commitments since its formation in 2008. Wheelock Real Estate Fund V has $725 million of commitments from leading pension funds, endowments and foundations.