Denholtz Properties Forms $1B JV Targeting Industrial
The firm plans to focus on core-plus, value-add investments and developments in target markets.
Privately held developer and investor Denholtz Properties has launched a $1 billion joint venture with an affiliate of an institutional investment management firm to target multitenant industrial projects in densely populated high-growth infill areas.
The firm plans to focus on core-plus, value-add investments and developments in target markets near its regional headquarters in New Jersey and Florida, as well as across the Southeast.
“Finding and capitalizing on value creation opportunities in the current industrial market requires the sophistication and capabilities of an institutional investment platform paired with an entrepreneurial and agile approach,” said Steven Denholtz, CEO of Denholtz Properties. “We look forward to leveraging our unique operating platform and decades of multitenant industrial experience with our investment partner.”
The Denholtz joint venture is the latest in a steady stream of such initiatives targeting the industrial asset class. In January, Bridge Industrial and the Canada-based Public Sector Pension Investments Board announced a joint-venture partnership to develop best-in-class warehouses in urban infill locations throughout the US, with $550 million in equity allocated to the initiative. And in December, joint venture partners Brennan Investment Group and Arch Street Capital Advisors announced they had acquired an eight-property industrial portfolio, the ninth in the joint venture’s partnership acquisition history.
It’s also the latest venture targeting infill growth. Late last year, Oxford Properties Group and EverWest Real Estate Investors announced a similar joint venture to target the US infill industrial portfolio growth, with plans to acquire and develop approximately $1 billion of infill, small-bay, industrial properties across the US.