Matan to Invest on Capitol Hill

By Keith Loria, Contributing Editor 

Mark Matan

Matan Cos., through its Matan Fund V, has committed $100 million to acquire warehouse/industrial properties in the Washington, D.C., area, with expected acquisitions to total 3-4 million square feet over the next 2-3 years.

The fund has the ability to expand up to $150 million, as well.

“The fund will have a nice balance between acquiring existing assets and ground up development. We will now begin investing heavily in the warehouse and industrial sectors in the Washington, D.C., area,” Mark Matan, Matan Cos.’ principal, told Commercial Property Executive. “We will take advantage of the lack of existing inventory, the e-commerce effect, and the barriers to entry in the local market.”

According to Matan, the goal of the fund is to capitalize on existing voids in the D.C. metropolitan area.

“The fund already has two pending deals totaling 250,000 square feet and a 120,000-square-foot building expected to start construction this summer,” he added.

The latter involves plans to build a new Class A High Bay Warehouse in Frederick, Md., the first of six site-plan approved buildings, totaling close to 700,000 square feet at Matan’s Wedgewood West Industrial Park.

Established in 1979, Matan Cos. has directed and invested more than $2 billion in real estate transactions in the greater Washington, D.C., metropolitan area. Since inception, the company has developed 3 million square feet of industrial and office assets and currently owns more than 5 million square feet. In addition, the company owns land totaling 3 million square feet of industrial space development potential and has a 730-unit portfolio of multi-family assets under construction.

Last year, Matan Cos., through its Matan Fund IV, acquired the Milestone Business Park, a 42-acre campus in Germantown, Md., from Multi-Employer Property Trust for $128 million.