By Joshua Burd
Denholtz Properties has teamed with an institutional partner for a new $1 billion joint venture that will seek to acquire and develop multitenant industrial buildings.
According to the Red Bank-based firm, the partnership will target properties located in densely populated, high-growth infill areas in the regions around both New Jersey and Florida, where it has its two main offices. It did not disclose the name of its joint venture partner, but described it as an affiliate of an institutional investment management firm.
“Finding and capitalizing on value creation opportunities in the current industrial market requires the sophistication and capabilities of an institutional investment platform paired with an entrepreneurial and agile approach,” Denholtz Properties CEO Steven Denholtz said. “We look forward to leveraging our unique operating platform and decades of multitenant industrial experience with our investment partner.”
The joint venture has not yet closed on any properties, but has several in its pipeline. In launching the platform, Denholtz is drawing on decades of experience in the industrial sector, with a portfolio that stretches from the Northeast to South Florida.
Last summer, the firm marked the completion of a new 26,400-square-foot light industrial building in Tinton Falls and broke ground on a second property across the street.
