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Sign in Sign up for a FREE subscriptionUnited Properties and PCPP form $165m JV platform partnership
United Properties has formed a $165 million joint venture with PPP for an 11-building industrial portfolio, to scale a development program focused on delivering top-quality industrial product in high-growth markets.
Phase I of the platform has a pipeline of 11 properties totaling 1.4 million square feet, which are located in the strategic logistic markets of Denver, Minneapolis and Austin. The joint venture partnership has the potential to carry into Phase II, with development of an additional 18 buildings consisting of 2.3 million square feet.
The Denver-area properties total 415,000 square feet and include Trade @ 2534 #1 & #2 in Johnstown and Bolder Innovation 1 & 2 in Louisville.