Deutsche Finance America and March Capital Management Announce Construction Set to Begin on Large Industrial Park off State Highway 45 in Creedmoor, Texas
AUSTIN, Texas, April 18, 2024 /PRNewswire/ -- March Capital Management ("MCM") in partnership with Deutsche Finance America ("DFA") today announced the acquisition and capitalization of the initial phase of a large industrial development located off State Highway 45 Southeast in Creedmoor, Texas.
AUSTIN, Texas, April 18, 2024 /PRNewswire/ -- March Capital Management ("MCM") in partnership with Deutsche Finance America ("DFA") today announced the acquisition and capitalization of the initial phase of a large industrial development located off State Highway 45 Southeast in Creedmoor, Texas. This marks the commencement of 45 Logistics South, a planned industrial park, set to feature five state-of-the-art warehouse buildings and cover an expansive area ofthat will deliver approximately 900,000 rentable square feet.
The initial phase introduces two buildings, totaling around 400,000 square feet, situated adjacent to Interstate State Highway 45 (SHI-45) and just east of Interstate 35 (I-35). This strategic location services the Austin metro area and is a 20-minute drive to the airport and Tesla Gigafactory Texas. The project is fully capitalized with construction set to begin later this month.
Bora Ozturk, Principal and Co-Founder of MCM, expressed enthusiasm about the joint venture, emphasizing its alignment with the firms' confidence in the Austin market and the evolving landscape of industrial properties across Texas. "We are committed to addressing the heightened manufacturing and logistics demands in Austin and supporting the city's growing population," Ozturk remarked.
Echoing this sentiment, Jason Lucas, Co-Founder and CEO at DFA, shared his excitement about the partnership with MCM. " This venture marks DFA's first step into the industrial sector, a move we approach with great anticipation and confidence. It represents a tremendous investment opportunity for our investors but also signals the start of what we foresee as a sustained focus on the logistics space, promising growth and innovation for DFA in the years to come," said Lucas.
This development represents a significant step forward in meeting the increasing manufacturing needs of the Austin area and contributes to the broader economic growth of Texas. The project underscores the partners' dedication to innovative industrial solutions and their positive impact on local communities.
About March Capital Management
March Capital Management ("MCM") is a vertically integrated, opportunistic real estate investment fund operator, focused on industrial and residential development. MCM's core objective is to reposition, develop, and extract the "highest and best use" out of underutilized properties in high-growth, supply-constrained markets. It designs, develops, builds, and manages projects from acquisition to disposition in multiple U.S. states, including California, Texas, Idaho, Hawaii, and Utah. As a fund operator with deep market expertise and established relationships, MCM takes an innovative and hands-on approach to management and execution. Since inception, MCM has completed 42 investments across 4 funds, generating a median realized project IRR of 35% from 26 successful exits.
About Deutsche Finance
Deutsche Finance Group ("DFG") is a global real estate investment management firm managing more than $13 billion in assets as of Q3 2023. Established in 2005, DFG is headquartered in Munich with offices in London, Denver, Zurich, Luxembourg and Madrid.
Deutsche Finance America ("DFA") is a subsidiary company established in 2018 to source, structure, and asset manage direct real estate investments in the United States on behalf of DFG's institutional client accounts and managed funds. Deutsche Finance America has closed on acquisitions totaling approximately $6.8 billion as of Q3 2023. Further information, visit www.dfamerica.com
About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of services, including leasing, Legendary CX property management, tenant and landlord representation, capital markets, investment management and sales, development, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas and operates 15 core offices in markets that cover areas including Alexandria, VA; Arlington, VA; Atlanta; Austin; Boca Raton; Charleston; Charlotte; Chicago; Colorado Springs; Dallas; Denver; Fort Lauderdale; Fort Worth; Greenville, SC; Houston; the Inland Empire; Irvine; Los Angeles; Miami; Nashville; Orange County; Phoenix; Raleigh-Durham; Reston, VA; San Antonio; Tysons; Washington, D.C.; and South Florida. Since 1996, Stream has grown to more than 1,350 professionals and now completes more than $6.9 billion annually in office, industrial, retail, healthcare, land, and data center transactions. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook.
Contact:
L. Kirby
Email [email protected]
Phone: +1 (303) 336-7250
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SOURCE Deutsche Finance America
