Trebor Developments has announced that it has entered into a joint venture with Hillwood, a leading U.S. based commercial real estate investor and developer with offices in the United States, Germany, and Poland, to develop a wide range of industrial and logistics accommodation in the United Kingdom.
The new joint venture has a broad mandate but is expected to concentrate its efforts on the UK area spanning between Yorkshire and South of the M4 corridor, including major conurbations around Leeds, Manchester and East and West Midlands. The partnership will facilitate investments in a wide array of industrial real estate developments, on both a speculative and build-to-suit basis.
Over the past two years, Trebor Developments has been one of the most active speculative developers of industrial and logistics real estate across the United Kingdom, carrying out a range of schemes with a focus on those that range between 30,000 and 300,000 square feet.
“We are excited about our new partnership with Hillwood,” said Bob Tattrie, Managing Partner for Trebor Developments. “This is an exciting time for Trebor, as it provides the opportunity for us to build upon our established reputation for delivering high-quality industrial and logistics accommodation and further grow on the million sq ft of accommodation we delivered last year.”
Hillwood, who has been active in Europe since 2013, anticipates investing £400 million in industrial and logistics across the United Kingdom over the next two years. Ross Perot, Jr. Chairman of Hillwood noted that “a partnership with Trebor is a natural extension to our existing operations in Germany and Poland, as it provides local expertise and will add high-quality logistics assets to Hillwood’s existing European portfolio. In addition to the Trebor joint venture, Hillwood plans additional growth in both the United Kingdom and other European submarkets.” Hillwood currently owns more than 55 million square feet of industrial and logistics real estate across the United States and Europe.
“Trebor is delighted to be selected as an operating partner for Hillwood in the United Kingdom,” said Bob Tattrie, “there were a number of development companies that Hillwood could have selected and we’re looking forward to forging an enduring relationship with many new schemes”.
The joint venture, which touts its ability to leverage quick decision-making abilities via its privately-owned partners, is already under contract on three development sites and is actively pursuing other opportunities.