Hillwood, Brookfield Acquire Two Class A Industrial Buildings in Baltimore
Hillwood Investment Properties, a Perot company, together with Brookfield Asset Management, has acquired two Class A industrial facilities totaling 1.8 million square feet in the Baltimore, MD market.
Built in 2005, the 756,690-square-foot facility at 451 Fletchwood Road, Elkton, MD is located on 71 acres in Broadlands Business Park. The facility at 238 Belvidere Road in Perryville, MD, was developed in 2003 and totals 1,004,000 square feet on 71 acres.
Both facilities have been built, managed and maintained to meet the highest institutional standards. The well-designed, concrete tilt-up buildings feature 28' to 30' clear heights, ample dock high loading doors, large truck courts with abundant trailer storage and future cross dock functionality. The Belvidere Road facility in Perryville has active rail access that is served by CSX Railway.
“Given the Class A nature of the buildings and high credit quality of the tenants, these properties are a great addition to the Hillwood-Brookfield portfolio,” said Tom Fishman, Hillwood's Executive Vice President of Acquisitions.
The properties are strategically located within Baltimore's I-95 North corridor industrial submarket, which consists of Hartford and Cecil counties. The location offers convenient access to I-95, the primary highway serving the U.S. Northeast population center that links to one-third of the U.S. population within a one-day truck drive. The area benefits from a deep labor pool, growing population and desirable quality of life of the Baltimore/Washington metro area.
“We are pleased to add these state-of-the-art properties to our expanding presence in the U.S. Northeast industrial sector,” said Gary Frederick, Hillwood's Senior Vice President and Northeast Market Officer.
Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and the top residential developer in Dallas-Fort Worth. Hillwood's developments currently house facilities for 60 companies listed on the Fortune 500, Global 500 or Forbes List of Top Private firms. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center, and 2,000-acre AllianceCalifornia. For additional information, please visit www.hillwoodinvestmentproperties.com.
About Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager focused on property, renewable power, infrastructure and private equity, with over US $150 billion of assets under management, which includes approximately US $88 billion of property assets under management in North and South America, Europe and Australia. In addition, the company provides clients with an extensive array of real estate advisory, property and investment services. Brookfield is publicly listed on the NYSE, TSX and Euronext Amsterdam under the symbol BAM, BAM.A and BAMA, respectively. For additional information on the company, please visit http://www.brookfield.com.
Public Strategies, Inc.
Karen Modlin, 214-773-2152