December 4, 2020
Dallas-based Crow Holdings has formed a joint venture with Allianz Real Estate through the direct sale of a 49% stake in a 19-asset, 6.1 million-square-foot U.S. industrial portfolio developed by Crow Holdings. Crow Holdings and Allianz Real Estate plan to manage the portfolio to maximize cash flow and long-term.
The 19 properties were constructed beginning in 2014. The portfolio is anchored by Wildlife Commerce Park, an 11-building, 3.8 million-square-foot development in Grand Prairie, TX. The other properties are located in key U.S. markets including Chicago, Dallas, Houston and Southern California.
“We are excited to partner with Allianz Real Estate, a top-tier global investor that shares our confidence in the U.S. industrial real estate sector,” said Crow Holdings CEO Michael Levy. “As a longstanding partner to Crow Holdings, we look forward to continuing to work with them to optimize these assets, which benefit from the major tailwinds of increasing logistics demand.”
Pictured: Wildlife Commerce Park.
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