The second partnership involving Hillwood and a major sovereign wealth fund is expected to deploy more than $1 billion over the next three to four years
A major sovereign wealth fund and Hillwood, a Dallas-based real estate investment and development company owned by Ross Perot, Jr., announced today the initial closing of a new fund to make direct and indirect investments in industrial real estate, principally large warehouses, across North America. Hillwood will have responsibilities for acquisitions, developments, and joint ventures with other developers. With an expected total equity amount of $400 million – over half of which has been identified and committed – the partnership is expected to deploy more than $1 billion over the next three to four years.
The partnership represents the second such venture between Hillwood and the sovereign wealth fund. Combining significant experience in investments, acquisitions and development, the partnership has the resources and expertise to further increase Hillwood and the sovereign wealth fund’s presence in the industrial warehouse market.
“The new fund provides the investment flexibility to target the highest risk-adjusted returns available across the industrial warehouse asset class, without being restricted by a narrow investment target,” said Ross Perot, Jr., Chairman of Hillwood.
Hillwood, a Perot company, is ranked as one of the top industrial real estate investors and developers in the country and one of the largest residential developers in Texas. The company's developments currently house facilities for more than 85 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, 2,000-acre AllianceCalifornia, and 4,474-acre AllianceFlorida at Cecil Commerce Center. Hillwood is the second largest owner / controller of industrial land in the U.S., with over 87 million square feet of future development potential in four key markets. For additional information about the company, please visit www.hillwood.com.