Crow Holdings and Mubadala Investment Company, the Abu Dhabi-based sovereign investor, have formed a joint venture to develop new Class-A industrial properties across major markets in the U.S.
The venture will pursue approximately $1 billion of development opportunities targeting a range of institutional industrial markets.
“This is an important joint venture for both Crow Holdings and Mubadala, and we look forward to partnering with this leading global investor as it seeks to increase its exposure to the industrial sector and capitalize on the secular growth in logistics demand,” said Michael Levy, Chief Executive Officer of Crow Holdings.
“We continue to accelerate our market-leading presence in the industrial space by developing or acquiring state-of-the-art properties across a range of strategies from merchant-build to long-term build-to-core portfolio construction. We have been incredibly fortunate to grow and diversify our investment partners, which include sovereign wealth funds, public pension plans, insurance companies, registered investment advisors and investment management platforms,” he added.
Khaled Abdulla Al Qubaisi, CEO of Real Estate & Infrastructure Investments for Mubadala said, “We pride ourselves on aligning with best-in-class partners, and this joint venture with Crow Holdings is no exception. Crow Holdings’ strong track record and history as a real estate developer and investor complement our ambitions to grow our industrial exposure and capitalize on the rapid growth in logistics demand in the U.S.”