Dallas, TX — Hillwood Investment Properties (Hillwood), in a partnership with Brookfield Asset Management (Brookfield), has acquired the 328,691-square-foot South Rialto Logistics Center (formally Franzman Ranch) in California’s Inland Empire.
South Rialto Logistics Center is a Class A, state-of-the-art industrial building located on more than 26 acres in Rialto, CA. The property also has about nine acres available for construction of an additional building or for housing 220 trailer parking stalls.
“Hillwood is proud to make another investment in the Inland Empire with South Rialto Logistics Center,” said John Magness, senior vice president for Hillwood Investment Properties. “We see the Inland Empire as one of the country’s strongest markets, with significant leasing activity and a rapidly decreasing supply of Class A industrial buildings like South Rialto Logistics Center.”
This marks the first property Hillwood and Brookfield have acquired since announcing the creation of a partnership to invest up to $1 billion in industrial properties over the next three years.
South Rialto Logistics Center’s strategic location in the city of Rialto offers excellent access to I-10, I-215 and the 60 Freeway in Southern California to service the Western United States. The property will offer future tenants a low coverage ratio that provides a secure campus environment with fencing and natural boundaries.
California Public Employees' Retirement System (CalPERS) was the seller of the property. Brian Wilson represented Hillwood and Brookfield and Darla Longo and David Consani of CB Richard Ellis and Rick John of Daum Commercial represented CalPERS.
South Rialto Logistics Center is located on 3700 S. Riverside Avenue in Rialto, CA. The property is available immediately for lease.
About Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager focused on property, renewable power, infrastructure and private equity, with approximately US$150 billion of assets under management, which includes over US$83 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/.
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. Since its inception in 1988, Hillwood Communities, the residential division for Hillwood, has built 70 communities throughout the United States and Costa Rica, and has developed more than 22,000 lots. Currently, the company oversees 34 active communities in 28 cities and seven states. Hillwood’s developments currently house facilities for 58 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 hillwood.com and hillwoodcomunities.com.