GID, a privately-held real estate company, and global real estate investor Ivanhoé Cambridge have formed an investment platform, GID Industrial, to invest in industrial assets in growing markets across the United States.
The platform consists of $2 billion gross assets under management spanning 173 buildings and 19 million square feet in 15 markets across the country plus additional capital for new investments.
Led by Rene Circ and Mike Wenaas, GID Industrial will focus on acquiring, developing, and managing infill industrial product in locations near dense residential and employment nodes in close proximity to the end customer.
“GID Industrial, with strong shared corporate values as well as a proven and seasoned management team, will complement our existing IDI Logistics big-box build-to-core strategy,” said Mario Morroni, Executive Vice President, Industrial, North America of Ivanhoé Cambridge.
“Our partnership with GID is perfectly aligned with Ivanhoé Cambridge’s investment strategy and positions us to accelerate the execution of our urban infill light-industrial strategy in the US and continue to create value for our stakeholders in this highly competitive environment going forward,” he added.
“Supply chains that support online sales must evolve to accommodate the demand for faster delivery times, requiring more warehouse space closer to the consumer,” according to Rene Circ, Senior Managing Director and Chief Operating Officer of GID Industrial. “GID has been investing in infill locations for the last 60 years, and GID Industrial will target assets that benefit from the continued strength and evolution of supply chains, especially as online spending shows no sign of slowing.”
“Our team has spent significant time and resources investing in infill industrial real estate, long before it became an institutional asset class.” said Mike Wenaas, Senior Managing Director and Chief Investment Officer, GID Industrial. “The partnership with Ivanhoé Cambridge brings expertise, global relationships and capital to our investment strategy, accelerating our growth.”