by Erik Foster (Chicago)
Foreign capital is continuing to work its way into US industrial assets in a big way. Dallas-based Hillwood, the real estate and investment company owned by Ross Perot, Jr., is the latest to do so, again. They have closed a new fund with a major sovereign wealth fund partner that is expected to deploy more than $1 billion into industrial real estate over the next four years. More than half of the venture's $400 million in equity has already been identified and committed.
This is the second time Hillwood has worked with this sovereign wealth fund, which it chose not to disclose. Their prior equity partnership was with the Canadian-based Brookfield Asset Management based in Toronto.
In both cases, the very experienced experienced team at Hillwood is handling the acquisitions, developments, investments and management of the industrial properties.