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Crow Holdings Forms Strategic Joint Venture with Allianz Through Sale of a 49% Stake in 19-Property, 6.1 Million-Square-Foot U.S. Industrial Portfolio
[December 03, 2020]

Crow Holdings Forms Strategic Joint Venture with Allianz Through Sale of a 49% Stake in 19-Property, 6.1 Million-Square-Foot U.S. Industrial Portfolio


Crow Holdings announced today that it has formed a joint venture with leading global real estate investment manager Allianz Real Estate, acting on behalf of several Allianz Group companies, through the direct sale of a 49% stake in a 19-asset, 6.1 million-square-foot U.S. industrial portfolio developed by Crow Holdings. Through this long-term joint venture, Crow Holdings and Allianz Real Estate plan to manage the portfolio to maximize cash flow and its growth over the long term.

The properties in the portfolio were constructed from the ground up by Crow Holdings beginning in 2014. The portfolio is anchored by the Wildlife Commerce Park, an 11-building, 3.8 million-square-foot development built on 220 acres strategically located with broad access to the Dallas-Fort Worth metroplex. The other properties are located in key U.S. markets including Chicago, Dallas, Houston and Southern California. In line with Crow Holdings' and Allianz Real Estate's ongoing commitment to the environment and sustainable development practices, 12 of the properties have either LEED Certifications or LEED Certifications pending.

"By analyzing tenant demand patterns in major U.S. logistics hubs, Crow Holdings successfully assembled and developed this long-term, build-to-core portfolio of high-quality industrial properties. We continue to build upon our strategy of establishing trusted partnerships with premier institutions to capitalize on the long-term secular growth of e-commerce. We are excited to partner with Allianz Real Estate, a top-tier global investor that shares our confidence in the U.S. industrial real estate sector, on this venture. As a longstanding partner to Crow Holdings, we look forward to continuing to work with them to optimize these assets, which benefit from the major tailwinds of increasing logistics demand," said Michael Levy (News - Alert), Chief Executive Officer of Crow Holdings.

"Partnering with Crow Holdings - a trusted partner for several years on both the debt andequity side - allows us to grow alongside a developer that understands the dynamics and needs of the U.S. market," said Christoph Donner, CEO of Allianz Real Estate of America. "Allianz remains focused on long-term opportunities making this investment an excellent fit for our portfolio. Crow Holdings' decades of experience and track record give us the confidence to further expand our joint platform."



Since 1948, Crow Holdings has been investing in the industrial sector, and has grown to become a market leader across both its institutional real estate asset management business and its industrial development business. Over the past 22 years, Crow Holdings operating companies have developed or owned 106 industrial developments with an additional 39 currently in development, representing over 78 million square feet of industrial space across the U.S.

About Crow Holdings
Crow Holdings is a privately owned real estate investment and development firm headquartered in Dallas, Texas. With a 70-year operating history and a strong track record of performance and innovation, the Company has extensive industry reach and access through its businesses' 15 U.S. offices. The investment management platform consists of Crow Holdings Capital (CHC) and Crow Holdings Partners (CHP). CHC manages $11B of real estate assets through its value-add and specialized funds invested across property types in the United States. CHP is focused on investing in and managing developments sponsored by Trammell Crow Residential and Crow Holdings Industrial through separate accounts, programmatic ventures and funds. The development platform consists of Trammell Crow Residential, Crow Holdings Industrial and Crow Holdings Office, and develops multifamily, industrial and office properties. The founding principles of partnership, collaboration and alignment of interests remain central to the firm's mission today. For more information, please visit www.crowholdings.com.


About Allianz Real Estate
Allianz Real Estate is a PIMCO Company, comprising Allianz Real Estate GmbH and Allianz Real Estate of America and their subsidiaries and affiliates. It is the dedicated real estate investment manager within the Allianz Group and has grown to become the world's largest investor in real estate. Allianz Real Estate develops and executes worldwide tailored portfolio and investment strategies on behalf of a range of global liability driven investors, creating long-term value for clients through direct as well as indirect investments and real estate financing.

The operational management of investments and assets is performed out of 19 offices in key gateway cities across 4 regions (West Europe, North & Central Europe, USA and Asia Pacific). As at 30 September 2020, Allianz Real Estate held €71 billion assets under management. For more information, please visit: http://www.allianz-realestate.com


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