BentallGreenOak commits $475m for industrial logistics partnership

BentallGreenOak (BGO) has committed $475 million of equity to a Xebec-sponsored venture, a Dallas-based fully integrated real estate development and investment management platform focused exclusively on the industrial and logistics real estate sector.

The strategic partnership includes an initial $170 million joint venture with Xebec Logistics Trust (XLT) in a portfolio of stabilized core assets and an initial commitment of up to $305 million to Xebec’s future investment opportunities.

XLT is an open-end sector-specific fund established by Xebec in 2017 with a focus of providing investors with attractive income and total returns by investing in high-quality industrial logistics assets located in key U.S. logistics markets. BentallGreenOak’s majority investment in the joint venture formed with XLT funded the acquisition in March 2021 of five, fully leased, new class A industrial logistics assets totaling 1.6 million square feet and developed by Xebec. With the compl