{"id":1004543610,"date":"2021-07-14T03:45:27","date_gmt":"2021-07-14T11:45:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004543610"},"modified":"2022-12-08T17:45:44","modified_gmt":"2022-12-09T01:45:44","slug":"kdc-forms-jv-closes-800m-fund-with-new-partners","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kdc-forms-jv-closes-800m-fund-with-new-partners\/","title":{"rendered":"KDC Closes $800M Fund With New Partners"},"content":{"rendered":"
\"\"<\/a>

Parkside Uptown, Dallas. Image courtesy of KDC<\/p><\/div>\n

KDC, a national real estate company known for its development of office buildings, corporate build-to-suit facilities and mixed-use projects, is evolving. It now has two new partners\u2014Cadillac Fairview, the global real estate division of the Ontario Teachers\u2019 Pension Plan, and Compatriot Capital, a wholly owned subsidiary of longtime KDC partner Sammons Enterprises Inc.\u2014which acquired a 50 percent interest in the company.<\/p>\n

Concurrent with the establishment of the joint venture, the new partners closed on their inaugural $800 million commercial real estate fund, which focuses on office and mixed-use assets in the U.S.<\/p>\n

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READ ALSO:<\/strong> The Top 10 Issues for CRE Now<\/a><\/p>\n

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Over the last three decades, KDC has solidified a reputation as a leading corporate build-to-suit development and investment firm, having created a premier portfolio of customized headquarters and regional facilities valued at more than $9 billion and totaling approximately 36 million square feet across the U.S.<\/p>\n

KDC’s current portfolio is bursting at the seams with six commercial projects accounting for an aggregate 2.1 million square feet. Valued at a total of more than $1.1 billion, the projects include such mixed-use developments as the $1.5 billion Hub RTP in Raleigh, N.C., which got underway last fall<\/a>, and Parkside Uptown, an approximately 493,000-square-foot Dallas office tower featuring 8,000 square feet of ground-level retail space and a corner plaza.<\/p>\n

Per terms of the joint venture agreement, Cadillac Fairview and Compatriot will work with KDC on the ongoing development of corporate office properties as well as the acquisition of high-quality, mixed-use assets. Additionally, with the launch of the fund, KDC will enter new territory, as the internally capitalized investment vehicle will act as a long-term instrument for enhancing the partners’ combined portfolio of Class A office and mixed-use properties in key U.S. markets.<\/p>\n

Investors acting as anticipated <\/strong><\/h2>\n

Many real estate industry experts had anticipated that 2021 would be a busy year for the formation of joint ventures in the investment community worldwide.<\/p>\n

“Joint venture strategies are rising in popularity among real estate investors as an attractive route into new markets and sectors, as well as a way for existing owners to diversify risk and create new relationships,” according to a February 2021 report by JLL.<\/p>\n

Pointing to a survey by INREV, that same JLL report noted that, globally, 27 percent of investors indicated that they planned to increase their allocations to joint ventures in 2021.<\/p>\n

Notable partnerships that have materialized over the month include Invesco Real Estate and Jera Asset Management’s formation of Mercury Trust<\/a>, a strategic joint venture that will have the capacity to purchase up to $3 billion in industrial assets over the next three to five years.<\/p>\n

Just last week, Greystar Real Estate Partners LLC joined forces with Toronto-based Canada Pension Plan Investment Board on a new $1.2 billion partnership<\/a> to capitalize on the thriving life sciences sector.<\/p>\n

Earlier this week, Madison International Realty and Warsaw-based Griffin Real Estate announced a new joint venture to enter the German logistics market, where the firms will commence activities by partnering with logistics developer Panattoni on two build-to-suit facilities, valued at more than $94 million, for Amazon.<\/p>\n","protected":false},"excerpt":{"rendered":"

The move aims to bolster the company\u2019s footprint in the corporate build-to-suit and mixed-use markets.<\/p>\n","protected":false},"author":969,"featured_media":1004543611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,21783,21752,23891,21742,21747],"tags":[48794,51446,33619],"class_list":["post-1004543610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-investment","category-mixed-use","category-national","category-latest","category-office","tag-cadillac-fairview","tag-compatriot-capital","tag-kdc"],"acf":[],"yoast_head":"\nKDC Closes $800M Fund With New Partners - 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\/kdc-forms-jv-closes-800m-fund-with-new-partners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KDC Closes $800M Fund With New Partners\" \/>\n<meta property=\"og:description\" content=\"The move aims to bolster the company\u2019s footprint in the corporate build-to-suit and mixed-use markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kdc-forms-jv-closes-800m-fund-with-new-partners\/\" \/>\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=\"2021-07-14T11:45:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:45:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Parkside-Uptown-Dallas.-Image-courtesy-of-KDC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\/kdc-forms-jv-closes-800m-fund-with-new-partners\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/kdc-forms-jv-closes-800m-fund-with-new-partners\/\",\"name\":\"KDC Closes $800M Fund With New Partners - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kdc-forms-jv-closes-800m-fund-with-new-partners\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kdc-forms-jv-closes-800m-fund-with-new-partners\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Parkside-Uptown-Dallas.-Image-courtesy-of-KDC-e1756124859531.jpg\",\"datePublished\":\"2021-07-14T11:45:27+00:00\",\"dateModified\":\"2022-12-09T01:45:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kdc-forms-jv-closes-800m-fund-with-new-partners\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/kdc-forms-jv-closes-800m-fund-with-new-partners\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kdc-forms-jv-closes-800m-fund-with-new-partners\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Parkside-Uptown-Dallas.-Image-courtesy-of-KDC-e1756124859531.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Parkside-Uptown-Dallas.-Image-courtesy-of-KDC-e1756124859531.jpg\",\"width\":800,\"height\":600,\"caption\":\"Parkside Uptown is scheduled for delivery in 2027. 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