Mubadala Investment Co. has set up a joint venture with Crow Holdings to develop $ 1 billion in Class A industrial properties in the United States, said Michael Levy, CEO of Crow Holdings.
The Abu Dhabi-based Sovereign Wealth Fund has $ 243 billion in assets.
“Mubadala is committed to investing directly in industrial real estate in the US, and on a large scale.” Mr. Levy said in an interview: “This is a real joint venture in which Crow Holdings is both a developer and a capital partner.”
Neither Mubadala nor Dallas-based Crow Holdings have disclosed the size of their obligations.
“We are proud to work with best-in-class partners and this joint venture with Crow is no exception,” Khaled Abdullah Al Qubaisi, CEO of Real Estate and Infrastructure Investment at Mubadala, said in a written statement.
“Crow’s strong track record … complements our ambition to expand our industrial presence and capitalize on the rapid growth in US logistics demand,” he said.