Latest Hillwood News

Hillwood Properties to develop largest project yet in AllianceTexas

Candace Carlisle — Wed, 27 Mar 2013 00:00:00 GMT

Hillwood Properties announced Tuesday its largest project yet in AllianceTexas: A 1.2 million-square-foot speculative building.

"We are excited about this moving forward," President Mike Berry told me Tuesday afternoon. "It opens up a new development area for use that we haven't opened up yet."

The project will kick off Alliance Center North, a 650-acre industrial development at the northeast area of Eagle Parkway and Interstate 35W within AllianceTexas, a 17,000-acre master-planned, mixed-use community in north Fort Worth. Alliance Center North will be east of Alliance Airport.

"This is one of our largest big blocks of undeveloped land in AllianceTexas," Berry said, adding that Alliance Center North will consist of 9 million square feet of industrial space at build-out. He declined to disclose the cost of the project.

Hillwood has seen a major rebound in the industrial market, and demand is expected to exceed available space, Berry told me.

"North Texas is still a growing logistics center and it's going to continue to attract these major distribution, fulfillment and distribution projects that needs the infrastructure in North Texas and the labor force," Berry said.

Last year, Berry told the Dallas Business Journal that he expected to begin working on a large speculative industrial project based on tenant demand. In 2012, Amazon.com signed two deals with Hillwood Properties totaling 2 million square feet for fulfillment centers in AllianceTexas and in Coppell.

This is the first time Hillwood has begun development on a speculative industrial project since 2007. This project marks the return of the industrial market in Dallas-Fort Worth, Berry said.

"It's a good trend line that we haven't seen in a long time," he said. "The market has tightened up and we want to be in the position to win the next round of business."

Hillwood Kicking Off New Industrial Park at Alliance With 1.2 Million SF Spec Building

Christine Perez — Wed, 27 Mar 2013 00:00:00 GMT

Hillwood Properties is responding to the demand for industrial space with a 1.2 million-square-foot speculative facility at Alliance, its 17,000-acre mixed-use development in north Fort Worth. Called Alliance Center North 1, the facility will launch a new 650-acre industrial park within Alliance that can accommodate more than 9 million square feet. It joins Alliance Gateway and Westport at Alliance, among others, and offers frontage along Interstate 35-W.

GDA Architects is handling design of the new spec building; construction will get under way this summer.

Mike Berry, president of Hillwood Properties, said in a statement that the company has seen a “major rebound” in the industrial market. “Demand is beginning to exceed the available space that we have on the ground. This spec industrial building will give us a competitive site selection advantage under current market conditions.”

The project will provide access to the Alliance Global Logistics Hub, which includes the Burlington Northern Santa Fe Intermodal Facility, Fort Worth Alliance Airport, and Interstate 35W, Berry said.

Speculative development is in keeping with Hillwood’s strategy of having inventory ready to go, the company said. Historically, it has developed about 1 million square feet of spec space a year at AllianceTexas. But this will be the first such project since the recession hit; its last spec building was completed in 2008.

So far, about 40 percent of the acreage in the sprawling project has been developed. AllianceTexas can accommodate up to 30 million additional square feet of space, Berry said.

Last year, Hillwood inked more than 5 million square feet of leases at Alliance, including a 1.1 million-square-foot facility for Amazon. Its record year in its three primary divisions led D CEO to name Hillwood and its chairman, Ross Perot Jr., Developer of the Year Award in 2013 Commercial Real Estate Awards program.

Hillwood adding 1.2-million-square-foot building to Alliance

Andrea Ahles — Wed, 27 Mar 2013 00:00:00 GMT

FORT WORTH -- Hillwood Properties is betting that someone will want a big new distribution center or warehouse at its Alliance development.

The developer announced plans Tuesday to construct a speculative 1.2-million-square-foot industrial building as part of its Alliance Center North project. The building will be at the northeast corner of Interstate 35W and Eagle Parkway in far north Fort Worth.

Click here to read the full article.

Hillwood Properties to build 1.2 million-square-foot industrial building at AllianceTexas in Fort Worth

Hanah Cho — Wed, 27 Mar 2013 00:00:00 GMT

Hillwood Properties said Tuesday that it will build a 1.2 million-square-foot industrial building in its AllianceTexas project north of Fort Worth.

The news is the latest sign that the depressed market for industrial space is slowly rebounding in North Texas. South Dallas County also has seen several recent deals for large warehouse and distribution centers.

Across the country, industrial projects are picking up, said Jeff Turner, executive vice president of Indiana-based Duke Realty, who’s based in Dallas.

“People consider Dallas one of the top three distribution hubs in the United States,” said Turner, whose firm recently completed Whirlpool Corp.’s 1 million-square-foot distribution center west of Interstate 45 in Wilmer. “Our activity here, especially big deal activity, has gotten really strong, which is encouraging.”

Hillwood said the speculative building will be in its 650-acre Alliance Center North complex. The new industrial building, named Alliance Center North 1, will be on the northeast side of Interstate 35W and Eagle Parkway.

The market for industrial construction in the Dallas-Fort Worth area has been depressed in recent years. Now, demand for large industrial space in D-FW is starting to exceed available inventory, said Mike Berry, president of Hillwood Properties.

“I don’t think anyone’s willing to say that the market is just on a rocket ship, but I think slowly but surely we’ve seen growth, and we’ve seen absorption [of vacant space] and buildings go off the market,” Berry said.

North Texas is seeing resurgence in industrial construction activity involving large spaces. Hillwood is also building a 1 million-square-foot fulfillment center in Coppell for Amazon.

Earlier this month, two Southern California investors bought a 530-acre development site in southern Dallas County for industrial development. Xebec Realty Partners and CT Realty Investors said the land could accommodate almost 9 million square feet of industrial space.

And in the last year, major companies such as Ace Hardware, PepsiCo and Quaker Oaks announced plans to relocate major industrial facilities along Interstate 20 and Interstate 45 corridors south of Dallas.

Given the recent demand, Hillwood wants to be ready.

“Bottom line, we’re banking on the fact that this trend will continue and the industrial market will stay relatively firm,” Berry said.

It has been about four years since Hillwood built a speculative industrial building. That, he said, “shows you where the market has been.”

During that time, Hillwood has worked to fill vacant space and renew existing leases, Berry said.

Last year, Hillwood secured more than 5 million square feet of leases for new and existing tenants. That’s compared with just under 3 million in 2011.

Construction of Alliance Center North 1 will begin this summer. The building is expected to be completed in about eight months. It is part of the 17,000-acre AllianceTexas development.

Berry said several sectors, including e-commerce, electronics, automotive and aerospace, could be potential tenants for the building.

Hillwood Investment Properties Named Industrial Developer of the Year by NAIOP Inland Empire

Media Contact: Elizabeth Corley (817-919-6163, ecorley@pstrategies.com) — Tue, 05 Feb 2013 00:00:00 GMT

February 5, 2013

DALLAS — Hillwood Investment Properties, a Perot company, was named Industrial Developer of the Year by NAIOP, the Commercial Real Estate Development Association, Inland Empire Chapter.

“We are honored to receive this award from NAIOP,” said John Magness, senior vice president for Hillwood. “Our development efforts in the Inland Empire began more than a decade ago, and we have been fortunate to partner with many local cities and organizations to build successful projects in the region.”

Hillwood Investment Properties is the developer of AllianceCalifornia, a 2,000-acre trade and logistics center located at the former Norton Air Force Base in San Bernardino, CA. Since its establishment in 2002, AllianceCalifornia has brought more than 8,000 jobs back to the community.

The award was presented to Hillwood at the NAIOP chapter’s second annual REXIE Awards meeting on Jan. 22.

NAIOP Inland Empire is a regional chapter of the national commercial real estate development association that encompasses both Riverside and San Bernardino counties.

About Hillwood

Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and the top residential developer in Dallas-Fort Worth. Hillwood’s developments currently house facilities for more than 60 companies listed on the Fortune 500, Global 500 or Forbes List of Top Private firms. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center, and 2,000-acre AllianceCalifornia. For additional information, please visit www.hillwoodinvestmentproperties.com.

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Hillwood’s Mike Berry, Caroline Rose Hunt Family Named to NTCAR’s 2013 Hall of Fame

Tue, 05 Feb 2013 00:00:00 GMT

The North Texas Commercial Association of Realtors has selected its 2013 Hall of Fame Inductees: Mike Berry of Hillwood and the Caroline Rose Hunt Family.

Berry, president of Hillwood Properties, was the driving force behind the company’s hugely successful AllianceTexas development in North Fort Worth. The Caroline Rose Hunt Family built Dallas-based Rosewood Hotel & Resorts into a global ultra-luxury hotel management company.

The hall of fame dinner and reunion will get under way at 5:30 p.m. at Brook Hollow Country Club in Dallas.

The North Texas Commercial Real Estate Hall of Fame was formed in 1988, with Trammell Crow, Lyn Davis, Henry S. Miller Jr., John M. Stemmons Sr. and his brother, L. Storey Stemmons, and Angus G. Wynne as inductees. Other notables who followed include John Carpenter and Roger Staubach. Leo Corrigan Jr. and Steve Van Amburgh were the 2011 recipients; Gerald Hines and Jeff Hines and Granite Properties’ Michael W. Dardick were inducted in 2012.

According to 2013 NTCAR Hall of Fame chairman Chris Teesdale, Dallas-Fort Worth is the only market in the United States that honors the real estate professionals who have made a significant impact on the market in this way.

“We are extremely honored to add the Caroline Rose Hunt Family and Michael Berry to our distinguished Hall of Fame roster,” Teesdale said in a statement. “Mrs. Hunt and her family and Mike Berry have brought worldwide acclaim to North Texas for their exceptional hospitality management and innovative property management concepts, respectively.”

Here’s additional information on the two inductees, from NTCAR:

• The Caroline Rose Hunt Family currently operates The Rosewood Corp., which seeks to invest in a variety of areas including real estate, oil and gas, private equity capital, and ranches through three subsidiaries: Rosewood Resources, Inc.; Rosewood Private Investments; and Rosewood Property Co. Additionally, Caroline Rose Hunt is the founder and former honorary chair of Rosewood Hotels & Resorts. Rosewood debuted its first hotel, The Mansion on Turtle Creek in Dallas, in 1980 with a vision put in place by Mrs. Hunt to create luxurious, residential-style hotels that offer unparalleled attention to detail and exceptional personalized service. The Rosewood collection, which now encompasses 22 iconic hotels and resorts in seven countries, was sold in 2011.

• As president of Hillwood Properties, Mike Berry leads all management, operations and transactions and serves as the company’s representative among public sector entities for AllianceTexas, a 17,000-acre development that is recognized as one of the most unique master-planned communities in the nation. Stemming from the strong commercial base of AllianceTexas are corporate campuses, office complexes, tech and data centers, destination retail and entertainment venues, residential housing, schools, churches and community shopping. In total, the development encompasses nearly 32 million square feet, over 300 corporate residents, 30,000+ employees and more than 7,700 single-family homes. AllianceTexas has generated more than $40 billion in economic impact to North Texas.

Rosewood’s Caroline Hunt and Mike Berry with Hillwood get North Texas real estate honors

Steve Brown — Tue, 05 Feb 2013 00:00:00 GMT

Caroline Rose Hunt and her family, who built Dallas’ landmark Crescent complex and founded Rosewood Hotel & Resorts, will be honored with membership in the North Texas Commercial Real Estate Hall of fame.

Also getting the award is Mike Berry, who’s headed Hillwood’s huge AllianceTexas development in North Fort Worth.

The Hunt family and Berry will be honored at the commercial real estate association’s May 2 dinner, which also celebrates the 25th year of the North Texas Commercial Association of Realtors.

The North Texas Commercial Real Estate Hall of Fame was started in 1988, and the awardees include the late developer Trammell Crow and commercial real estate legend Henry. S. Miller Jr. Since the award was founded, 80 business people have received the designation.

Berry, Rosewood Family, Become Hall of Fame Inductees

Amy Wolff Sorter — Tue, 05 Feb 2013 00:00:00 GMT

DALLAS-Hillwood Properties' president Michael Berry and the Caroline Rose Hunt Family, which built, owns and operates Rosewood Hotel & Resort, are the latest inductees into the North Texas Commercial Real Estate Hall of Fame. Both will be honored at the NTCRE dinner and 25th reunion, which will take place on May 2 at the Brook Hollow Golf Club.

The Caroline Rose Hunt Family operates Rosewood Corp., which invests in real estate, oil and gas, private equity capital and ranches through three subsidiaries: Rosewood Resources, Inc.; Rosewood Private Investments and Rosewood Property Co. Additionally, Caroline Rose Hunt is the founder and former honorary chair of Rosewood Hotels & Resorts. Rosewood debuted its first hotel, The Mansion on Turtle Creek in Dallas, Texas, in 1980 with a vision put in place by Mrs. Hunt to create luxurious, residential-style hotels that offer unparalleled attention to detail and exceptional personalized service. The Rosewood collection, which now encompasses 22 iconic hotels and resorts in seven countries, was sold in 2011.

As president of Hillwood Properties, Michael Berry leads all management, operations and transactions and serves as the company’s representative among public sector entities for AllianceTexas, a 17,000-acre master-planned development in north Fort Worth. Stemming from the strong commercial base of AllianceTexas are corporate campuses, office complexes, tech and data centers, destination retail and entertainment venues, residential housing, schools, churches and community shopping. In total, the development encompasses nearly 32 million square feet, over 300 corporate residents, 30,000+ employees and more than 7,700 single-family homes. AllianceTexas has generated more than $40 billion in economic impact to North Texas.

“We are extremely honored to add the Caroline Rose Hunt Family and Michael Berry to our distinguished Hall of Fame roster,” says Chris Teesdale, chair of the 2013 NTCAR Hall of Fame dinner. “Mrs. Hunt and her family and Mike Berry have brought worldwide acclaim to North Texas for their exceptional hospitality management and innovative property management concepts, respectively.”

Hillwood to offer multifamily housing

Tue, 05 Feb 2013 00:00:00 GMT

Hillwood Multifamily, a subsidiary of Hillwood Properties, said it will build a 306-unit luxury apartment community at its Alliance development in far north Fort Worth called SageStone Village.

Click here to read the full article.

North Texas Commercial Association of Realtors

Candace Carlisle — Mon, 04 Feb 2013 00:00:00 GMT

The North Texas Commercial Association of Realtors (NTCAR) announced Monday it plans to name the Caroline Rose Hunt family and Mike Berry to its Hall of Fame in May.

The Hall of Fame honor recognizes game-changing professionals in the commercial real estate industry in North Texas. Other past recipients of the award include Trammell Crow, Henry S. Miller Jr. and John M. Stemmons Sr.

Both Mike Berry and Caroline Rose Hunt's family have brought worldwide acclaim to the North Texas region in their respective sectors of the industry, said Chris Teesdale, chair of the 2013 NTCAR Hall of Fame dinner.

That's why the two entities will receive the prestigious award, he said.

The Caroline Rose Hunt family built the Rosewood Corporation, which invests in real estate, oil and gas, private equity capital. It has three subsidiaries including, Rosewood Resources Inc., Rosewood Private Investments and Rosewood Property Co.

The family built the luxury Rosewood Hotel & Resort hotel management company.

Mike Berry is the president of Hillwood Properties, which has developed the 17,000-acre AllianceTexas development. The company recently brought in a 1.1-million-square-foot distribution center for Amazon.com.

The awards will be given at the organization's annual Hall of Fame dinner on Thursday, May 2 at Brook Hollow Golf Club.

Amazon To Build Three Fulfillment Centers In Texas

Fri, 01 Feb 2013 00:00:00 GMT

Coppell, Haslet And Schertz, Texas — Amazon plans to open three new fulfillment centers in Coppell, Haslet and Schertz that will create more than 1,000 jobs. The 1.2 million-square-foot center in Schertz and the 1 million-square-foot center in Coppell will handle larger items, such as televisions and grills. The 1.1 million-square-foot site in Haslet will handle smaller items, such as books, electronics and DVDs. USAA Real Estate Co. is building the Schertz fulfillment center, and Hillwood Development Co. is building the Haslet fulfillment center as part of AllianceTexas, a 17,000-acre master-planned community. Hillwood is also building the Coppell center.

Amazon confirms it will build three fulfillment centers in Texas

Sandra Baker — Thu, 31 Jan 2013 00:00:00 GMT

Amazon.com, the Seattle-based online retailer, confirmed Wednesday that it will build three fulfillment centers in Texas, including a 1.1 million-square-foot facility in the sprawling Alliance development in far north Fort Worth.

Click here to read the full article.

New Amazon warehouses are big projects for developer Hillwood

Steve Brown — Thu, 31 Jan 2013 00:00:00 GMT

Amazon.com’s formal announcement of two big warehouse developments in North Texas will add to the industrial building boom underway in the area.

The distribution center deals have been in the works for months and will be constructed in Coppell near Dallas/Fort Worth International Airport and north of Fort Worth near Alliance Airport in the town of Haslet.

Both projects for the Seattle-based on-line retailer will be built by Dallas-based developer Hillwood, the real estate investment and building firm headed by Ross Perot Jr.

Just a few weeks ago Perot was talking about the deals he’s doing for the Internet retailer at a morning breakfast meeting.

“We are now doing 3 million square feet for Amazon,” Perot said at the Weitzman Group’s annual retail real estate meeting. “Internet fulfillment is a huge driver for our business.”

The Amazon warehouse being built near Alliance Airport will be just over 1 million square feet. And the Coppell building will be another million.

Hillwood just opened another million-square-foot Amazon warehouse in its Alliance California business park in San Bernardino.

The Haslet and Coppell projects will add to the surging Dallas-Fort Worth industrial building market.

But those warehouse deals for Amazon also are an indication of how much the retail scene has changed.

A couple of decades ago, the merchandise that’s in those 2 million square feet of Amazon warehouses would have been on store shelves in shopping centers in the region.

Now big box retailers including Best Buy and Office Depot are scaling back the size of their storefronts and the goods they would have sold are now sitting in warehouses for on-line retailing.

Huge Amazon Projects Getting Under Way in Coppell, Haslet

Christine Perez — Thu, 31 Jan 2013 00:00:00 GMT

As RealPoints contributing editor Allen Gump wrote earlier this month, two build-to-suits for Amazon are among the big industrial projects planned for North Texas this year. Amazon has just released a statement making the projects official.

The company has inked 15-year leases for a 1.1 million-square-foot facility in Coppell, and a second 1.1 million-square-foot building in Haslet. It hopes to take occupancy in August 2013.

Hillwood has been selected to develop both buildings. Combined, they represent the largest industrial deal inked in the area in 2012.

USAA Real Estate Co. will build a third Texas center in suburban San Antonio. Statewide, Amazon is expected to create more than 1,000 new jobs.

“The jobs and potential tax base that this development will bring to our community is a major milestone in our city’s growth,” said Bob Golden, mayor of Haslet, in a statement.

The Haslet facility will handle small items like books, small electronics, and DVDs. The Coppell and San Antonio sites will process larger items, from televisions to barbecue grills.

U.S. military veterans will be among those hired. Amazon recently committed to hiring more than 1,000 veterans in the United States this year. There are about 1.6 million veterans in Texas, according to the Department of Veteran Affairs.

Amazon confirms it’s adding three fulfillment centers in Texas including Coppell

Maria Halkias — Wed, 30 Jan 2013 00:00:00 GMT

Online shopping leader Amazon.com said today it will open three fulfillment centers in Texas that will employ more than 1,000 people.

The sites are in Coppell, Haslet and near San Antonio in Schertz. USAA Real Estate Company is building the project in Schertz. Hillwood Development Co. is building the project in Haslet as part of AllianceTexas, a 17,000-acre, master-planned community, and in Coppell.

Amazon didn’t say when the centers will open.

The 1.2 million-square-foot site in San Antonio suburb Schertz and the 1 million-square-foot site in Coppell will handle larger items like televisions. The 1.1 million-square-foot site in Haslet will handle smaller items like books, small electronics or DVDs.

Comments from the press release:

“This is the biggest economic development partnership announcement in the history of our city,” said city of Haslet Mayor Bob Golden. “The jobs and potential tax base that this development will bring to our community is a major milestone in our city’s growth.”

“Amazon, coming to Coppell, complements our strategy of building a quality business base that supports the community and the region,” said Coppell Mayor Karen Hunt. “We are thrilled Amazon chose Coppell for a new fulfillment center. We recognize their large capital investment and new jobs brought to this area.”

“We are thrilled to formally and officially welcome Amazon to Schertz,” said city of Schertz Mayor Michael Carpenter. “The investment Amazon is making in our community is significant, and it is a manifest expression by yet another highly successful and well-respected company that Schertz is a great place to do business.”

“We look forward to putting more than 1,000 Texans to work at our new fulfillment centers in Schertz, Coppell and Haslet,” said Mike Roth, Amazon’s vice president of North American fulfillment. “We appreciate the state and local elected officials who have helped us make this exciting investment in the state of Texas.”

“We’re pleased Amazon is investing in Texas by bringing three fulfillment centers and more than 1,000 jobs to our state,” said Texas Comptroller Susan Combs. “I thank Amazon for working with us—making it possible to bring new jobs and revenue to the state of Texas.”

Amazon Announces Texas Fulfillment Centers

Amy Wolff Sorter — Wed, 30 Jan 2013 00:00:00 GMT

COPPELL, TX-Amazon has announced it will open three fulfillment centers in Texas. The online retail company, headquartered in Seattle, will place a 1-million-square-foot facility in Coppell (in the Dallas-Fort Worth Area); a 1.1-million-square-foot facility in Haslet, just north of Fort Worth, and a 1.2-million-square-foot one in Scherz, northeast of San Antonio.

According to a press release from Amazon, the Scherz and Coppell sites will handle the larger items, such as televisions and barbecue grills, while the Haslet facility will handle books, DVDs, small electronics and other smaller items.

USAA Real Estate Co. is building the project in Schertz. Hillwood Development Co. is building the project in the city of Haslet as part of the 17,000-acre AllianceTexas. Hillwood is also developing the Coppell project, at 900 W. Bethel Rd.

“We look forward to putting more than 1,000 Texans to work at our new fulfillment centers in Schertz, Coppell and Haslet,” says Mike Roth, Amazon’s vice president of North American fulfillment in a press release. “We appreciate the state and local elected officials who have helped us make this exciting investment in the state of Texas.”

This is not Amazon's first foray into Texas by any means. This announcement comes less than two years after Amazon was involved in a brouhaha with the state of Texas over sales taxes from its Irving, TX warehouse/distribution facility. Amazon shut down the facility in protest in 2011. The $269 million bill was settled with the state in April, 2012 with Amazon agreeing to make more than $200 million in capital investment and create more than 2,500 jobs in the state.

It's official: Amazon to put distribution centers in Coppell, AllianceTexas

Candace Carlisle — Wed, 30 Jan 2013 00:00:00 GMT

After nearly four months of silence on its North Texas plans, Seattle-based Amazon.com has confirmed to the Dallas Business Journal that the online retail giant is making a foray back to DFW in a big way.

Amazon.com (Nasdaq: AMZN) plans to open two large regional distribution centers totaling more than 2 million square feet in Coppell and AllianceTexas. The distribution centers, along with an additional one near San Antonio, will generate about 1,000 fulfillment center jobs.

Fort Worth-based Hillwood Development Co. is the developer of the two ground-up projects. Both 15-year lease deals were completed in 2012. The terms of the agreements were undisclosed.

In December, the Dallas Business Journal obtained public records that outlined the details of its 1.1 million-square-foot distribution center in AllianceTexas, which will sit on roughly 68 acres of land.

The DBJ also broke the news last October that the City of Coppell was working on a tax incentive deal with Amazon.com. The economic development deal has not been completed yet, city officials say.

Coppell has authorized City Manager Clay Phillips to negotiate an agreement with the online retailer to bring a distribution center to 900 W. Bethel Road in Coppell, which is a tract owned by Hillwood.

Amazon.com had a facility in Irving, but it closed in 2011 after a dispute over whether the company had to collect sales tax.

The online retailer began collecting sales taxes from its Texas customers this summer, after reaching an agreement with Texas Comptroller Susan Combs, who had estimated Amazon owed the state $269 million in taxes and penalties related to sales from 2004 to 2009.

As part of the deal, Amazon committed to creating 2,500 jobs in Texas and making at least $200 million in capital investments within the state.

These two large Amazon.com regional distribution deals — and the addition of 1,000 fulfillment jobs in North Texas — reinforce the importance of Dallas-Fort Worth's distribution market. Other large companies, such as L'Oreal, Restoration Hardware and BMW, have also recently landed distribution centers in North Texas.

Bridge partners with Hillwood Development Co. on five Chicago area industrial projects

Staff Writer — Tue, 29 Jan 2013 00:00:00 GMT

Chicago-based Bridge Development Partners LLC has closed on five Chicago area transactions in a venture with Dallas-based Hillwood Development Co. The joint venture is comprised of Bridge’s five latest industrial real estate projects totaling nearly 900,000 square feet and valued at $80 million, including:

?600 Corporate Woods Dr., Vernon Hills, a 103,000-square-foot industrial building;

?4350 Pinehurst Blvd., Addison, an industrial property totaling 85,800 square feet;

?2727 E. Higgins Road, Elk Grove Village, a vacant, 184,406-square-foot industrial facility that Bridge plans to redevelop into a state-of-the-art air cargo building;

?2201 Lunt Ave., Elk Grove Village, a 212,200-square-foot industrial facility also scheduled for redevelopment into a speculative air cargo building in 2013; and

?8424 W. 47th St. in Lyons, a 312,000-square-foot cold storage facility.

“Our joint venture partnership with Hillwood provides another capital source for our infill development strategy in Chicago and South Florida,” said Steve Poulos, principal and co-founder of Bridge Development Partners. “We are excited about this relationship and look forward to completing many more transactions — between $150 million and $200 million per year — with Hillwood.”

Hillwood Buys Eight Properties In Five Markets

Fri, 25 Jan 2013 00:00:00 GMT

DALLAS — Dallas-based Hillwood Investment Properties, a Perot company, has formed a partnership with Brookfield Asset Management and the Hillwood-Brookfield Industrial Partners fund to purchase eight properties in five U.S. markets. The properties include three buildings totaling 750,000 square feet in the Chicago area; one building totaling 668,000 square feet in the Far South Counties submarket of Indianapolis; one building totaling 556,000 square feet in Desoto County; one building totaling 403,000 square feet in Atlanta's Airport/South submarket; and two buildings totaling 256,000, located in the Southwest Orange submarket of Orlando.

Hillwood Investment Properties Closes Out 2012 with Eight Key Acquisitions in Five U.S. Markets

Thu, 24 Jan 2013 00:00:00 GMT

For Immediate Release

January 24, 2013

Dallas, TX – Hillwood Investment Properties, a Perot company, in a partnership with Brookfield Asset Management and the Hillwood-Brookfield Industrial Partners fund, announces the acquisition of eight Class A industrial properties totaling 2.6 million square feet located in five major U.S. industrial markets.

The transactions increased the portfolio’s size to 9.7 million square feet located in eight industrial markets - Atlanta, GA; Baltimore, MD; Chicago, IL; Memphis, TN; Indianapolis, IN; Inland Empire, CA, Orlando, FL; and Philadelphia/South New Jersey.

“We continue to increase our industrial portfolio with selective acquisitions in our targeted industrial markets,” said Tom Fishman, Hillwood’s Executive Vice President of Acquisitions. “We closed out 2012 with incredible success and will continue seeking strategic investment opportunities in 2013.”

December acquisitions included:

• Chicago: three buildings totaling 750,000 square feet located in the Fox Valley, O’Hare, and I-55 submarkets. This includes a joint venture with Bridge Development Partners.

• Indianapolis: one building totaling 668,000 square feet in the Far South Counties submarket

• Memphis: one building totaling 556,000 square feet located in the Desoto County submarket

• Atlanta: one building totaling 403,000 square feet located in the Airport/South submarket

• Orlando: two buildings totaling 256,000 located in the Southwest Orange submarket

"We are enthusiastic about expanding our presence in these markets,” said Dan Tatsch, Hillwood’s Market Officer for the Atlanta/Orlando/Chicago/Indianapolis markets. “With the addition of these properties, we have increased our investments while simultaneously providing prime locations for our current and prospective tenants.”

“The addition of Airways Distribution Center complements our other investments in the Memphis market and adds another great customer, Kimberly-Clark, to our portfolio," said Toby Rogers, Hillwood’s Market Officer for the Memphis market.

About Hillwood
Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and the top residential developer in Dallas-Fort Worth. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center, and 2,000-acre AllianceCalifornia. For additional information, please visit www.hillwoodinvestmentproperties.com.

About Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager focused on property, renewable power, infrastructure and private equity, with over US $150 billion of assets under management, which includes approximately US $88 billion of property assets under management in North and South America, Europe and Australia. In addition, the company provides clients with an extensive array of real estate advisory, property and investment services. Brookfield is publicly listed on the NYSE, TSX and Euronext Amsterdam under the symbol BAM, BAM.A and BAMA, respectively. For additional information on the company, please visit http://www.brookfield.com.

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