Abu Dhabi’s Mubadala Investment Company has teamed up with real estate developer Crow Holdings to target $1bn (€842m) worth of industrial property opportunities in the US.

The companies have formed a joint venture to pursue development opportunities targeting a range of institutional industrial markets.

Michael Levy, CEO of Crow Holdings, said: “This is an important joint venture for both Crow Holdings and Mubadala, and we look forward to partnering with this leading global investor as it seeks to increase its exposure to the industrial sector and capitalise on the secular growth in logistics demand.

“We continue to accelerate our market-leading presence in the industrial space by developing or acquiring state-of-the-art properties across a range of strategies from merchant-build to long-term build-to-core portfolio construction. We have been incredibly fortunate to grow and diversify our investment partners, which include sovereign wealth funds, public pension plans, insurance companies, registered investment advisors and investment management platforms.”

Khaled Abdulla Al Qubaisi, CEO of real estate and infrastructure investments for Mubadala Investment Company, said: “We pride ourselves on aligning with best-in-class partners, and this joint venture with Crow Holdings is no exception.

“Crow Holdings’ strong track record and history as a real estate developer and investor complement our ambitions to grow our industrial exposure and capitalise on the rapid growth in logistics demand in the US.”

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