HSA Commercial Real Estate, a Chicago-based real estate operating company, has retained Flint Creek Partners to identify qualified investors to invest in a non-discretionary programmatic joint venture focusing on investment activity in the industrial real estate sector.
The joint venture will target opportunistic acquisitions with a focus on mid-sized (100,000 to 400,000 square foot) warehouse, distribution and light industrial properties in leading industrial markets in the US.
The institutional investor’s USD75m equity investment will be used, with the company’s co-investment of USD7.5m, to fund over USD235,000,000 in potential investment activity.
HSA Commercial Real Estate currently owns a 72 property industrial portfolio of approximately 10,600,000 square feet and may consider contributing properties to the joint venture. It has also identified potential industrial acquisitions with a current pipeline of approximately 1,500,000 square feet.
Jack Shaffer, HSA Commercial’s chairman, says “The joint venture will enable HSA Commercial and our investment partner to take advantage of some of the most compelling investment opportunities in the industrial sector over the past 30 years.”
Flint Creek Partners provides financial advisory, venture capital and investment banking services to real estate firms and their investors.