AEW Capital Management to Invest $100M With Woodmont Industrial Partners
CHATHAM, N.J. (FEBRUARY 1, 2012) – Woodmont Industrial Partners, LLC (WI Partners) today announced that it has formed an investment platform with AEW Capital Management L.P., to acquire industrial properties with a focus on east coast port and inland port markets. AEW anticipates acquiring $250 million of assets under this program.
“Our goal is to aggregate a portfolio of industrial/distribution assets in excess of 7 million square feet in Northern New Jersey, Eastern Pennsylvania, Baltimore/Washington and South Florida,” said Gene Preston, Managing Principal, WI Partners. “The relationship with AEW will allow us to move full steam ahead in identifying acquisitions where we can add value, including land for development which will provide attractive returns in these strategic target markets.”
WI Partners is led by a group of commercial real estate industry veterans with highly successful investment and development track records in the target markets, including Managing Principal Eugene Preston, and Principals Eric Witmondt and Marc Lebovitz and Chief Investment Officer David Trager. Collectively, the principals of WI Partners have acquired or developed more than 14 million square feet of properties in such states as New Jersey, Pennsylvania, Florida, California and Texas.
“We are very pleased to be partnering with Woodmont,” said Marc Davidson, Portfolio Manager for the AEW Partners Funds. “This investment program will allow us to capitalize on east coast port traffic and take advantage of the perceived benefits of the widening of the Panama Canal and increased distribution needs in our target markets.”
About Woodmont Industrial Partners
Woodmont Industrial Partners (WI Partners) is an affiliate of Chatham, New Jersey based Woodmont Properties, a fully integrated real estate investment company established in 1963. WI Partners was formed in 2011 to focus on the acquisition of industrial properties with value-add opportunities in select, high-barrier-to-entry and globally oriented seaport and inland port markets in the Eastern United States. WI Partner’s goal is to create a portfolio of high-quality assets via the acquisition of individual properties or portfolios as well as development opportunities. www.woodmontindustrialpartners.com
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage over $31 billion of capital invested in over $45 billion of property and securities in North America, Europe and Asia (as of September 30, 2011). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore and Hong Kong, as well as additional offices in nine European cities. For more information please visit www.aew.com.
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