Stockbridge to hold major interests in logistics-oriented portfolio
Joint venture with Dedeaux Properties grows industrial footprint in the West
By: Dedeaux Properties
in the portfolio were six truck terminals, two truck and container storage yards, and two traditional warehouses.
The recapitalization is intended to seed an ongoing programmatic venture between Stockbridge and Los Angeles-based industrial development and investment firm Dedeaux Properties. The venture has been in the works for more than a year and comes on the heels of four individual asset acquisitions completed over the summer by Dedeaux and Stockbridge through one of its value-add vehicles.
Mark Carlson, managing director with Stockbridge said, "Stockbridge is excited to expand its industrial footprint into these transportation-
Dedeaux Properties (http://www.dedeauxproperties.com) has established itself as one of the best-in-class developers of logistics-oriented assets in Southern California.
"Stockbridge shares our commitment and vision for the space and this joint venture leverages our industry leading expertise, which is built on 80-years of experience in the logistics and industrial marketplace,"
The two firms intend to add to the existing portfolio through the acquisition and development of additional transportation-
"Logistics-oriented properties are one of our three key strategies and this partnership positions us well to execute on our deep pipeline of new opportunities with certainty and speed," added Dedeaux Properties Chief Investment Officer Matt Evans.
Stockbridge currently ranks among the top 10 largest private owners and managers of industrial real estate in the United States with over 42 million square feet of industrial under management.
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