Accord Group advises on $200m recapitalization transaction for Bixby Land Company

Accord Group Holdings has served as the exclusive financial adviser to the Bixby Land Company in its establishment of Bixby Industrial Fund 1.

The recapitalization portfolio consists of five industrial properties, two located in Mira Loma, Calif.; two in Phoenix; and one in Atlanta. Goldman Sachs Alternatives and an Ares Management Real Estate Secondaries fund are equity investors in the newly established fund.

“Accord started advising Bixby Land on this transaction last April,” said Jack Berquist, managing partner at Accord. “To see this transaction come together successfully in less than a year with two highly experienced investment partners during a period of economic challenges for commercial real estate is a testament to the team at Bixby and Accord’s structuring capabilities.”

The initial portfolio consists of five industrial properties totaling more than 836,000 square feet of leasable space. The properties are 100 percent leased to a total of 1