Joint venture investing heavily in USA
It is an invitation for two. The US real estate investor and developer Oxford Properties Group (Oxford) and the real estate investment management firm Ever West Real Estate Investors (Ever West) formed a joint venture in late 2021, planning to invest around USD 1 billion in US logistics real estate.
Now, they have invested USD 54 million in four sites in New Jersey, which comprise a 36,000 sqm warehouse avia sale-leaseback with ISC Gums, a redevelopment project with a warehouse spanning 26,000 sqm and a site to develop two new distribution facilities consisting of approximately 17,000 sqm and 41,000 sqm each.
“Our partnership with Ever West helps us to source both on- and off-market logistics opportunities across markets in USA,” said Ankit Bhatt, vice president of investments at Oxford. Since launching the joint venture, Oxford and Ever West have secured 15 light industrial assets and development opportunities in greater New Jersey as well as target markets in the Southern, Mountain, Southwest, West Coast and Pacific Northwest regions. (sh)