Bixby Land Company Announces Closing of Bixby Industrial Fund I
09 Mayo 2024 - 4:23PM
Business Wire
Bixby Land Company recently closed its newly established Bixby
Industrial Fund I, a continuation fund that offered existing
investors liquidity while extending duration for a portfolio of
five industrial properties located in California, Arizona and
Georgia totaling more than 836,000 square feet of leasable space
all of which are 100% leased. Vintage Strategies at Goldman Sachs
Alternatives and an Ares Management Real Estate Secondaries fund
are equity investors in Fund I.
The transaction also provides additional discretionary capital
for new investments in Bixby’s target markets in the Western U. S.,
Texas, and the Southeast. “Given an attractive basis on these
initial investments, and a lack of new supply being delivered in
2025 and 2026, we anticipate attractive value-add returns over a
five-to-seven-year investment horizon,” said Mike Severson, Bixby’s
Chief Investment Officer.
“We are thrilled to announce the successful completion of our
inaugural fund raise. This achievement is not only a testament to
the confidence investors have in our vision and discipline, but
also an important next step as Bixby continues its growth as an
investment manager,” says Lindsey Ensign Olson, Director of
Investor Relations & ESG Lead at Bixby Land Company.
Accord Group Holdings LLC, a global real estate strategic
investment and capital advisory firm, via Accord Capital Partners
LLC, its US broker/dealer affiliate, served as the advisor to Bixby
Land Company.
About Bixby Land Company
Bixby Land Company is a leading commercial real estate owner,
operator, and investment manager with over $1.5 billion of assets
under management. The Company develops and invests in industrial,
office, and R&D properties throughout the United States. For
125 years, Bixby Land Company has been committed to adding value
for its shareholders and investors. To learn more, visit
www.bixbyland.com.
About Ares Management
Ares Management Corporation (NYSE: ARES) is a leading global
alternative investment manager offering clients complementary
primary and secondary investment solutions across the credit, real
estate, private equity and infrastructure asset classes. We seek to
provide flexible capital to support businesses and create value for
our stakeholders and within our communities. By collaborating
across our investment groups, we aim to generate consistent and
attractive investment returns throughout market cycles. As of March
31, 2024, Ares Management Corporation's global platform had
approximately $428 billion of assets under management with
approximately 2,900 employees operating across North America,
Europe, Asia Pacific and the Middle East. For more information,
please visit www.aresmgmt.com.
About Vintage Strategies at Goldman Sachs
Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in
alternatives globally, with over $450 billion in assets and more
than 30 years of experience. The business invests in the full
spectrum of alternatives including private equity, growth equity,
private credit, real estate, infrastructure, hedge funds and
sustainability. Clients access these solutions through direct
strategies, customized partnerships, and open-architecture
programs.
The business is driven by a focus on partnership and shared
success with its clients, seeking to deliver long-term investment
performance drawing on its global network and deep expertise across
industries and markets.
The alternative investments platform is part of Goldman Sachs
Asset Management, which delivers investment and advisory services
across public and private markets for the world’s leading
institutions, financial advisors, and individuals. Goldman Sachs
has over $2.8 trillion in assets under supervision globally as of
December 31, 2023.
Established in 1998, Vintage Strategies at Goldman Sachs Asset
Management is one of the largest secondaries investors in the world
and has invested over $70 billion of capital since inception and
has been a pioneer in the industry. The business provides
liquidity, capital and partnering solutions to private market
investors and managers worldwide across a range of private market
strategies. Follow us on LinkedIn.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240509617577/en/
For media inquiries or further information, please contact:
Debbie Heinze at Bixby Land Company, 949-336-7028 or
dheinze@bixbyland.com