REAL ESTATE INVESTMENT
Marble Capital | April 11, 2022
Marble Capital, a Houston-based investment advisory firm focused on multi-family rental housing across the United States, announced that the firm has signed definitive agreements to enter into a partnership with Navigator Global Investments. The transaction is expected to close in late April 2022. In the deal, Navigator will purchase a minority stake in the business and become a passive, non-voting minority partner. Most of the capital will be used to support Marble Capital's near term growth initiatives, including funding larger general partner commitments to Marble Capital funds.
With Navigator, Marble will benefit from the deep experience and relationships of the Navigator leadership team. Additionally, as Navigator is a portfolio investment of Dyal, a division of Blue Owl, Marble is joining a broad ecosystem of leading alternative asset managers with access to a team that focuses on sharing insight into industry best practices and access to various capital providers. The partnership will allow the firm to invest more significantly in its various funds while also providing balance sheet capital to create and implement new products.
We are extremely pleased to partner with Navigator as we enter into the next stage of growth at Marble Capital. We believe Navigator's commitment to the company validates our stategy, underwriting process and the team we've assembled over the last five years."
Adam Allen, co-founder and managing principal at Marble Capital
David Oelfke, Marble Capital co-founder and managing principal added "a partnership with Navigator provides us a long term and aligned partner to accelerate certain growth initiatives, gain access to a deep industry network and best practices to leverage over time."
Michael Shepherd, Navigator Chairman commented "This is a strategic and compelling opportunity to partner with a successful and growing asset manager that brings diversification to our existing investment portfolio and will create value for Navigator shareholders. We look forward to continuing to support the Marble Capital team."
Colchester Partners LLC served as financial advisor to Marble on the transaction. Holland & Knight LLP served as legal counsel to Marble. Sidley Austin LLP served as legal counsel to Navigator.
About Marble Capital
Established in 2016, Marble Capital currently manages $1.4 billion in AUM across a series of closed-end private equity funds. The company provides flexible capital solutions for multifamily real estate developers and operators across the United States with a portfolio consisting of more than 20,000 multifamily units across US$4.5bn in transactions. Marble is headquartered in Houston, TX and is managed by a group of accomplished real estate professionals with 150 years of combined experience in real estate finance, capital markets, development and operations.
Navigator Global Investments Limited is a diversified asset management holding company dedicated to partnering with leading management teams who operate institutional quality businesses globally, primarily in the alternative investment management sector. Navigator has US$21.6 billion of AUM (31 December 2021) on an ownership adjusted basis across Lighthouse Partners and its strategic investment portfolio.
Brennan Investment Group | February 01, 2022
Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, has announced its acquisition of two land parcels totaling approximately 21 acres along I-90 in Hoffman Estates, IL. The plan is to develop a state-of-the-art, speculative industrial building totaling 201,600 square feet on the larger, 17-acre site and simultaneously pursue build-to-suits on the smaller, 4-acre site.
The properties are situated 10 miles northwest of O'Hare International Airport and provide excellent access to the Chicago MSA via key highway systems and transportation infrastructure.
The properties will have I-90 visibility and benefit from convenient access to I-90 at the Barrington Road interchange, and subsequently, to interstates I-290, I-294, and I-355, providing superior transportation routes for the end user, their customers, and their employees, As of Q4 2021, the overall Chicago industrial market contained approximately 1.2 billion square feet of industrial inventory, which equates to a vacancy rate of 3.3%."
Kevin Brennan, Managing Principal for the Midwest Region.
This transaction is illustrative of Brennan's preferred method of land acquisition: in-fill parcels in major markets whose submarkets have compelling fundamentals, Brennan's overall development pipeline will exceed $1 billion in 2022."
Scott McKibben, Brennan's Chief Investment Officer.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired or developed $5 billion in industrial real estate in 30 states. The company's current portfolio spans 27 states and encompasses approximately 46 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The company has 11 regional offices throughout the United States, and the firm's management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
REAL ESTATE INVESTMENT
KKR | May 10, 2022
KKR, a leading global investment firm, announced the expansion of KKR’s industrial real estate investment strategy in the U.S. to include ground-up development of Class A industrial logistics properties. KKR’s wholly owned U.S. industrial real estate platform, Alpha Industrial Properties (AIP), has begun development at four sites and has another four sites in pre-development. KKR has appointed industry veterans Greg Bradley and Matt Singleton as Senior Vice Presidents at AIP responsible for managing the platform’s sourcing, pre-development and development activity.
The eight projects are expected to deliver 1.8 million square feet (SF) of state-of-the-art industrial space serving the Atlanta, Dallas, Denver and Orlando markets. Funding for the projects is being provided by KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund.
The addition of ground-up development capabilities enhance our ability to assemble diversified portfolios of high quality industrial real estate and increase our presence in growth markets where we believe the supply-demand fundamentals remain dynamic. Our extensive experience acquiring approximately $7 billion of industrial real estate in the U.S. over the last four years positions us to identify attractive opportunities and development is a natural extension of our strategy.”
Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States
The development program augments KKR’s strategy of acquiring industrial assets and portfolios in major U.S. markets that are experiencing outsized demand for logistics real estate driven by demographic trends and the proliferation of ecommerce. Across its funds, KKR has committed or acquired approximately $7 billion of U.S. logistics assets since 2018 and currently owns over 45 million SF of industrial real estate.
Square Mile Capital and BMO Harris Bank have provided KKR with a $200 million construction facility to finance its investments in industrial developments nationwide.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.
REAL ESTATE INVESTMENT
Capital Square | December 24, 2021
Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a recently constructed, Class A, 200-unit multifamily community in Midlothian, a suburb of Richmond, Virginia. The community was acquired on behalf of CS1031 Artistry at Winterfield Apartments, DST.
Artistry at Winterfield is another superb addition to Capital Square's growing portfolio of Class A apartment communities in the Southeast to Texas, Located in Midlothian, Virginia, a short drive on Highway 288 from Capital Square's headquarters, Artistry is located in a well-to-do neighborhood with a median household income of $172,916 within a one-mile radius, according to Yardi Matrix. And the icing on the cake – 19.6% rent growth in the submarket, the highest year-over-year rent growth in the region, as of August 2021.* Artistry should provide investors with stable income during the holding period and exceptional appreciation potential."
Louis Rogers, founder and chief executive officer of Capital Square.
Located at 1000 Artistry Drive, the community is located 15 miles from downtown Richmond. Proximate to Highway 288, Artistry at Winterfield offers residents convenient access to multiple retail and dining options within Midlothian, including Target, Kroger, Wegman's, Sam's Club and more.
Artistry at Winterfield offers one- and two-bedroom units with spacious floorplans that feature top-of-the-line finishes, including stainless steel appliances, in-unit washer and dryers, walk-in closets as well as private patios and balconies.
Amenities at the community include a clubhouse, resort-style swimming pool and fitness center. Additional amenities include a resident lounge with a pool table as well as a business center.
CS1031 Artistry at Winterfield Apartments, DST seeks to raise $35.2 million in equity from accredited investors and has a minimum investment requirement of $50,000.
Artistry at Winterfield is located in Midlothian, a thriving suburb of Richmond, The population within a five-mile radius of Artistry at Winterfield is projected to increase 4.09% in five years.* Capital Square is bullish on the Richmond MSA, not only for its proximity to our firm's headquarters, but also due to its exceptional market fundamentals and notable growth."
Whitson Huffman, chief strategy and investment officer.
Since its founding in 2012, Capital Square has acquired 144 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.
About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed approximately $4 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro's Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and 2021 as well as on their "Fantastic 50" reports in 2019 and 2020.