Crow Holdings announces sale of one of the largest industrial portfolios since onset of COVID-19

Crow Holdings announces sale of one of the largest industrial portfolios since onset of COVID-19

8-Property, 4.7 Million-Square-Foot Portfolio Developed from Ground-Up Sold to PGIM as E-Commerce Accelerates

Crow Holdings announced today that funds managed by Crow Holdings Capital, its real estate investment management company, have completed the sale of an eight-property industrial portfolio comprised of 15 buildings and totaling 4.7 million square feet of space to PGIM Real Estate.

This sale represents one of the largest portfolios of industrial assets to sell during the COVID-19 pandemic. The eight properties are located in five key U.S. markets – Atlanta, Dallas, Denver, Fort Worth, and Phoenix – growing population centers located near gateway airports. Across the portfolio, leased occupancy improved three-fold during the sale process. Tenants include an array of national retail chains and corporations.

“This transaction demonstrates Crow Holdings’ longstanding expertise and leadership in the industrial asset class across our broad real estate investment management and development companies,” said Michael Levy, Chief Executive Officer of Crow Holdings. “Our ability to source, build, stabilize and sell industrial properties across the U.S. – combined with our 70-year history of performance in real estate – uniquely positions our firm to capitalize on the secular forces driving the growth of e-commerce over the past several years, which continues to accelerate as a result of the pandemic. Increased e-commerce sales and the post-pandemic focus on domestic onshoring and deeper inventory levels all point to a positive long-term outlook for industrial real estate.”

“Our team constructed this portfolio of state-of-the-art industrial properties in key markets with immediate access to critical infrastructure to be attractive to both institutional buyers and high-quality tenants,” said Bob McClain, Chief Executive Officer of Crow Holdings Capital. “We take great pride in our ability to construct, lease and monetize such an impressive collection of industrial assets during the COVID-19 pandemic.”

Since 1948, Crow Holdings has been investing in the industrial and logistics sector, and has grown to become a market leader across both its institutional real estate asset management business (Crow Holdings Capital) and its industrial development business (Crow Holdings Industrial). Over the past 22 years, Crow Holdings operating companies have developed or owned 107 industrial properties with an additional 46 currently in development, representing over 71 million square feet of industrial space across the U.S.

About Crow Holdings

Crow Holdings is a privately owned real estate investment and development firm headquartered in Dallas, Texas. With a 70-year operating history and a proven track record of performance and innovation, the Company has extensive industry reach and access. Crow Holdings Capital, the investment management company, manages $10.5B of real estate assets through its series of nine flagship value-add funds invested across property types in the United States, as well as its specialized fund strategies for retail, self-storage and multifamily. The development platform consists of Trammell Crow Residential, Crow Holdings Industrial and Crow Holdings Office, and is deployed across 16 major U.S. markets and develops multifamily, industrial and office properties. The founding principles of partnership, collaboration and alignment of interests remain central to the firm’s mission today. For more information, please visit

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