{"id":1004520892,"date":"2021-04-08T05:01:41","date_gmt":"2021-04-08T13:01:41","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004520892"},"modified":"2021-05-15T10:23:35","modified_gmt":"2021-05-15T18:23:35","slug":"gid-ivanhoe-cambridge-form-industrial-platform","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gid-ivanhoe-cambridge-form-industrial-platform\/","title":{"rendered":"GID, Ivanho\u00e9 Cambridge Form Industrial Platform"},"content":{"rendered":"
\"\"

Rene Circ, Senior Managing Director & COO, GID Industrial. Image courtesy of GID<\/em><\/p><\/div>\n

Boston-based GID and Ivanho\u00e9 Cambridge of Montreal announced the creation of GID Industrial, an investment platform targeting industrial assets in growing markets nationwide.<\/p>\n

With a focus on urban infill assets, GID Industrial is intended to complement the big-box build-to-core strategy of IDI Logistics, Mario Morroni, executive vice president, Industrial, North America of Ivanho\u00e9 Cambridge, said in a prepared statement. IDI remains owned by a joint venture of Ivanho\u00e9 Cambridge and Oxford Properties.<\/p>\n

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READ ALSO:<\/strong> Vacancy Drives Industrial Pricing Surge<\/a><\/p>\n

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The new platform will be led by Senior Managing Director & COO Rene Circ and Senior Managing Director & Chief Investment Officer Mike Wenaas.<\/p>\n

Rounding out the leadership team are CFO Michelle Mussafi, formerly of Colony Capital, and Portfolio Manager Gary Kroll, who has managed GID\u2019s industrial investments for the last 20 years.<\/p>\n

They will oversee investment professionals and asset managers in Boston, Dallas, Chicago, Oakland, and Atlanta offices.<\/p>\n

GID Industrial\u2019s portfolio consists of GID\u2019s wholly owned industrial assets, plus the assets that Ivanho\u00e9 owned under its Evergreen Industrial brand, Circ told Commercial Property Executive. Ivanho\u00e9 acquired Evergreen<\/a> almost four years ago in a deal reportedly valued at approximately $1 billion. That combined portfolio totals 19 million square feet in 15 markets across the U.S.<\/p>\n

Circ described Boston-based GID Industrial as a wholly owned subsidiary of GID \u201cwith its own governance and management team, but with full access to all of GID\u2019s resources.\u201d <\/p>\n

There has been no change to GID\u2019s industrial strategy, Circ added, as \u201cboth GID and Evergreen have been focused on the urban infill segment of the industrial market for years \u2026 Ivanho\u00e9 brings far more than capital. They are a well-regarded strategic investor in the Industrial sector and this partnership leverages their Evergreen team, their portfolio, their growth capital, and their corporate resources.\u201d<\/p>\n

Infill everywhere <\/strong><\/h2>\n
\"\"

Michael Wenaas, Senior Managing Director & CIO, GID Industrial. Image courtesy of GID<\/em><\/p><\/div>\n

Since forming its management team, GID Industrial has already closed and committed to multiple acquisitions and developments in Tampa, Fla.; Phoenix; Dallas; Las Vegas; and Northern New Jersey.<\/p>\n

In January, for example, the company purchased a 135,745-square-foot light industrial building<\/a> in Gilbert Spectrum Business Park, in Gilbert, Ariz., in metro Phoenix, from SunCap Property Group for $23.2 million.<\/p>\n

Circ told CPE<\/em> that the transaction was structured with an additional opportunity for GID Industrial to joint venture with SunCap on developing an additional 310,000 square feet at the park.<\/p>\n","protected":false},"excerpt":{"rendered":"

The venture, GID Industrial, will capitalize on long-term demand growth\u2014specifically in the urban infill industrial sector. <\/p>\n","protected":false},"author":882,"featured_media":1004528484,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,23891,21742],"tags":[51093,51094,40218,33565],"class_list":["post-1004520892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-national","category-latest","tag-gid","tag-gid-industrial","tag-idi-logistics","tag-ivanhoe-cambridge"],"acf":[],"yoast_head":"\nGID, Ivanho\u00e9 Cambridge Form Industrial Platform - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gid-ivanhoe-cambridge-form-industrial-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GID, Ivanho\u00e9 Cambridge Form Industrial Platform\" \/>\n<meta property=\"og:description\" content=\"The venture, GID Industrial, will capitalize on long-term demand growth\u2014specifically in the urban infill industrial sector.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/gid-ivanhoe-cambridge-form-industrial-platform\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T13:01:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:23:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Rene-Circ-Senior-Managing-Director-and-COO-GID-Industrial.-Image-courtesy-of-GID-Industrial-300x300-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gid-ivanhoe-cambridge-form-industrial-platform\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/gid-ivanhoe-cambridge-form-industrial-platform\/\",\"name\":\"GID, Ivanho\u00e9 Cambridge Form Industrial Platform - 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