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| Kevin MacKenzie |
DALLAS, TX –– Xebec
announced today the formation and initial capitalization of Xebec Industrial
Trust, LP, a sector-specific real estate investment entity exclusively focused
on the acquisition and selected development of industrial properties primarily
in target markets positively impacted by the growth of eCommerce in the United
States.
Xebec Industrial Trust
seeks to provide institutional, family office and high-net worth qualified
investors with “Core Plus” returns from stabilized cash flowing assets coupled
with build-to-core strategies.
In connection with the
formation and capitalization transaction, Holliday Fenoglio Fowler, L.P. (HFF)
arranged a $46 million loan for the fully-leased, seven-building portfolio
comprising four core industrial properties encompassing an aggregate of over
550,000 square feet in Los Angeles and Chicago area markets.
The HFF debt placement team representing the
Xebec Industrial Trust was led by senior managing director Kevin MacKenzie and senior director Brian Torp.
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| Brian Torp |
“Industrial demand in
major markets across the country is literally exploding based upon the
continued expansion of eCommerce,” stated Randy
Kendrick, Chief Executive Officer of Xebec, the parent of Xebec Industrial
Trust’s general partner and the primary sponsoring investor in the partnership.
“Tenant demand is clearly outstripping product
supply in many key metros, and in Los Angeles and other Southern California
markets tenant demand is driving rent growth that we have not seen in the past
30 years.”
Xebec Industrial Trust acquired its first
tranche of stabilized assets from the Xebec platform that Mr. Kendrick has
built during his over 30-year career in industrial development.
Many investors in the Xebec
developed-projects reacted enthusiastically and demonstrated their continued
confidence by contributing their interests to Xebec Industrial Trust’s initial
portfolio.
“Our existing investors
see the benefit of continuing their capital investment from individually
developed projects into a diversified, lower-leveraged portfolio with strong
cash flow provided by the initial properties contributed to form the partnership,”
Mr. Kendrick observed.
“The initial properties contributed to form Xebec Industrial Trust are of outstanding quality and most are located in key infill locations in Southern California, recognized by most industry experts as the most valuable and sought after industrial market in the country,” continued Mr. Kendrick. “The largest of the initial properties is an approximately 343,700 square foot campus leased on a long-term basis to Lagunitas Brewing Company (a subsidiary of Heineken NV) in the City of Azusa.”
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| Randy Kendrick |
Mr. Hodgkins, who brings
to the Xebec platform over 30 years of corporate and securities law, finance
and capital markets experience working with public and private real estate
companies, helped structure and lead the transactions creating Xebec Industrial
Trust and will play a significant role in the external management of the
partnership’s operations through Xebec Asset Management, LLC, a wholly-owned
subsidiary of Xebec.
“We believe there
continues to be tremendous investor interest for industrial exposure given the
solid fundamentals for the asset class based upon key market drivers, including
the continuing expansion of retail sales migrating to eCommerce channels,”
continued Mr. Hodgkins. “With the
formation and initial capitalization of Xebec Industrial Trust complete, we
look forward to pursuing a private capital raise from institutional investors
later in 2017, together with a concurrent debt strategy, to finance the
acquisition over the next two years of the company’s pipeline.”
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
