Tuesday, November 23, 2004 – Hillwood, the master developer for much of San Bernardino International Airport, and ING Clarion Partners, a leading national real estate investment firm, have entered into a strategic partnership involving more than 8 million square feet of industrial properties. ING Clarion entered into the partnership on behalf of the Lion Industrial Trust, an open-ended commingled fund focusing exclusively on the industrial sector. The partnership will serve as a platform for Hillwood and ING Clarion to work together on future development opportunities around the country, said David Pelletier, Hillwood spokesman. Two Hillwood properties at San Bernardino International Airport have been included in the partnership. They are the 1.2 million-square-foot Mattel distribution facility and the 600,240-square-foot Pep Boys warehouse, which is under construction. Of the 16 buildings in the partnership, 10 were developed by Hillwood. None of the buildings are in Hillwood’s 17,000-acre AllianceTexas project. In addition to San Bernardino, the properties are located in Dallas, Harrisburg and greater Memphis. “This partnership is an opportunity for Hillwood to work with one of the country’s top real estate investment firms,” Ross Perot Jr., chairman of Hillwood, said in a prepared statement. Pelletier said the transaction will be transparent to the tenants of the buildings in the partnership. Founded in 1982, ING Clarion and its affiliates manage $18 billion in assets in the private equity, public equity and public debt sectors of the real estate markets.
News Article | 11/23/2004