Wafra and Arden Group are launching a enterprise, aiming for a $1 billion aggregation of business service services in high U.S. development markets.
The enterprise plans to scale a diversified portfolio of business service services, together with industrial out of doors storage websites, truck terminals, trailer parking and final mile port services, constructing a sizeable market share inside a extremely fragmented sector.
The corporations have closed on a portfolio of ISF properties, constructing a direct presence in key development markets, together with Dallas, Houston, Atlanta, Austin and Miami.
Wafra is a worldwide different funding agency and Arden Group is a U.S. middle-market actual property fund supervisor.
Cleary Gottlieb served as Wafra’s authorized counsel and Cozen O’Connor served as Arden Group’s authorized counsel. CBRE served as Arden Group’s unique monetary advisor in reference to the transaction and offered advisory companies to the enterprise on financing.
Financing for the enterprise’s preliminary acquisitions led by CIT Financial institution.
