Developer agrees US partnership to deliver UK logistics projects
Birmingham-based Trebor Developments has announced a new joint venture agreement that will see it develop a wide range of industrial and logistics projects across the UK.
The company has struck a deal with Hillwood, a leading US-based commercial real estate investor and developer with offices in the United States, Germany, and Poland.
The JV has a broad mandate but is expected to concentrate its efforts on the area between Yorkshire and South of the M4 corridor, including major conurbations around Leeds, Manchester and the 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 UK, carrying out a range of schemes with a focus on schemes between 30,000 and 300,000 sq ft.
Hillwood, which has been active in Europe since 2013, anticipates investing £400m in industrial and logistics across the UK over the next two years.
It is chaired by entrepreneur Ross Perot Jr, son of billionaire businessman and former US Presidential candidate, Ross Perot.
He said: “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 UK and other European submarkets.”
Hillwood currently owns more than 55 million sq ft of industrial and logistics real estate across the United States and Europe.
Bob Tattrie, managing partner for Trebor Developments, said: “We are excited about our new partnership with Hillwood.
“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.
“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.