Abu Dhabi sovereign wealth fund Mubadala has joined US real estate developer Crow Holdings in creating a joint venture to build or acquire $1 billion of industrial properties across the US, reports say.
The Dallas-based firm is a leading national real estate investment and development firm with a 70-year operating history and $21 billion of assets under management and with a strong track record of performance across property types and market cycles.
“This is an important joint venture for both Crow Holdings and Mubadala, and we look forward to partnering with this leading global investor as it seeks to increase its exposure to the industrial sector and capitalize on the secular growth in logistics demand,” said Michael Levy, CEO of Crow Holdings.
“We continue to accelerate our market-leading presence in the industrial space by developing or acquiring state-of-the-art properties across a range of strategies from merchant-build to long-term build-to-core portfolio construction. We have been incredibly fortunate to grow and diversify our investment partners, which include sovereign wealth funds, public pension plans, insurance companies, registered investment advisors and investment management platforms.”
Headquartered in Abu Dhabi with $243.4 billion portfolio, Mubadala’s other recent deals in the US includes a $250 million investment in Biosimulation company Certara in July, reports say.