TMCnet News
Meritex Announces New Joint VentureThe Meritex Company announces the formation of a joint venture with a pension plan advised by a global real estate investment manager. The joint venture will acquire and operate multi-tenant warehouse properties in select U.S. markets. This marks the beginning of a long-term programmatic investment relationship designed to increase the venture's market presence and leverage Meritex' tenant-focused investment and operating strategy. It is the third joint venture relationship formed by Meritex since 2010. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191008005680/en/ 21410 N 15th Lane: Deer Valley Phoenix, AZ (Photo: Meritex) "Strategically aligned equity partners enable us to secure attractive investment opportunities and generateconsistent returns for our investors through active portfolio management," says Tom Hotovec, chief financial officer at Meritex. The new relationship will be formed with the acquisition of properties in Phoenix, AZ and Charlotte, NC. The investment strategy is an extension of Meritex' focus on well-located, highly-functional, multi-tenant warehouse properties. Ray Kivett, chief investment officer at Meritex, says, "In addition to properties already in the portfolio, we're aggressively looking to increase holdings in the key markets of Dallas, Miami, Phoenix and Charlotte, with several pending transactions in the works. We'd like to acquire an additional $125 million in properties over the next 18 months on behalf of the joint venture."
About The Meritex Company
View source version on businesswire.com: https://www.businesswire.com/news/home/20191008005680/en/ |