CA Ventures has expanded its multi-sector platform with a new $500m (€431.4m) industrial division created to pursue speculative development and acquisition opportunities throughout the US.
The Chicago-based firm has launched CA Industrial and plans to invest the amount in the logistics and distribution space over the next five years.
CA Industrial will initially focus on the central US, highlighting distribution networks that support regions of sustained employment and population growth, it said.
CA Industrial will be led by the group’s chief development officer Sean Spellman. Jim McGill has also joined as executive vice president.
McGill brings more than two decades of experience in the industrial sector from his positions with McShane Development Company, AMB and Prologis, where he most recently served as managing director, the company said.
Tom Scott, the CEO of CA Ventures, said: “We go where the opportunities are, and with record-low vacancy in markets across the country, we believe the industrial sector has a lot of runway as capital continues to pour into the sector.
“Using data-driven metrics to guide market, product and site selection, we will leverage organizational synergies from our other business lines, along with the expertise of both Sean and Jim, to expedite deal execution as we rapidly yet strategically grow the industrial portfolio.”
“The industrial segment continues to outperform other asset classes and there is no slowdown in sight, particularly in the logistics hubs our firm is targeting with this initial $500 million investment,” Spellman said.
“CA Industrial is already pursuing several opportunities that we hope to announce soon, and we’re fortunate to have partners – many of whom we’ve worked with in other sectors – who know CA and our ability to get deals done, regardless of property type or location.”
CA Ventures’ $7.8bn portfolio currently includes student and senior living accommodation, multifamily and mixed-use community assets. The firm also has some hospitality assets.
Earlier this year, the company started a construction division and also announced plans to expand its international business line in Europe.