GID Industrial Announces Acquisition of 299,000 sq ft Portfolio in Houston

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Apr 22, 2024, 15:17 ET

HOUSTON, April 22, 2024 /PRNewswire/ -- GID, the US-based alternative investment management firm with $29 billion in assets under management¹, has announced the acquisition of Beltway Northwest, a 299,000 sq ft industrial portfolio with frontage on Loop 8 in the Northwest submarket of Houston, Texas.

Built in 2007, this five-building property is equipped with 62 dock high doors and 18 drive-in doors, with clear heights between 17'-24'. It is fully leased to 17 tenants, nine of which have an international presence and five with a national presence.

GID Industrial will work to maintain institutional standards alongside its property manager, Stream Realty, and keep the project fully leased with its selected broker, Transwestern.

To learn more about GID Industrial, visit gid.com/industrial.

About GID: GID is a leading real estate investment and management firm that operates a diverse portfolio of multifamily, industrial, and mixed-use developments across the United States. Its industrial vertical comprises 24.7 million square feet across 232 properties and 22 markets. As of December 31, 2023, GID's regulated fund operates over 1.4M Industrial SF in 7 markets. Included in the figures above, GID provides asset management services without an equity investment for $2.4B core+ portfolios which encompass 15M SF of the total 24M SF Under Management. Headquartered in Dallas, Texas with offices in strategic markets across the country, GID Industrial has a team of experienced investment and asset management professionals with vast experience in industrial real estate. More information is available at https://gid.com/industrial-overview/.

¹Assets Under Management is calculated in compliance with the definition for Assets Under Management ("AUM") prescribed in INREV's Global Definitions Database. GID's AUM includes capital for which GID provides oversight and investment management services in the funds as well as proprietary accounts, joint ventures, and accounts for which GID provides asset management services without an equity investment ("Other GID Accounts"). Other GID Accounts are not categorized as funds and are not included in regulatory assets under management or reported in dollars in custody and are not considered "clients" on GID's ADV Part 1. As of December 31, 2023, the firm's regulatory assets under management totaled $3.8b and include 10,312 multifamily units, 1.4M industrial square feet, and 106 supervised employees.

SOURCE GID Real Estate