GTIS Partners LP, a real asset investment and development firm headquartered in New York City, with offices in São Paulo, Los Angeles, San Francisco, Atlanta, Paris and Munich, along with Hopewell Development LP, a development company based in Calgary, today announced closing on the development of Champions Circle Business Park, a 361k square foot class-A industrial park located in Dallas Fort Worth, Texas.
The site includes 21-acres of land located in Alliance, Texas which is a part of the wider Dallas Fort Worth ("DFW") industrial market and the North Fort Worth ("NFW") industrial submarket. Alliance is an 18,000-acre master-planned mixed-use community which includes office, industrial, retail, and residential components. Alliance has grown substantially, reaching 45M SF of developed space, over $9.7 billion of investment, over 61,600 employees, and is now home to more than 500 companies. Once completed, the project will total 361k square feet of class-A warehouse space. Located just south of the Texas Motor Speedway, the site has easy access to major interstate highways (I-35W, I-820 and SH-81).
The DFW industrial market has benefited from both high-quality infrastructure and its central location, consolidating its position as a major U.S. logistics hub for local and regional distribution. The market currently ranks as the fifth largest in the nation by total inventory. The DFW industrial market has also benefitted from the region's strong population growth, supported by its business-friendly environment, diversified economy, strong amenity profile, and affordability.
GTIS has developed 5.4M square feet of industrial/logistics space in the Americas. In addition, GTIS has significant experience in the DFW real-estate market as a residential investor, having built, sold, owned, or planned over 1,500 multi-family or single-family rental units, over 660 homes and over 570 homebuilding lots.
Hopewell is an experienced full-service development company headquartered in Calgary with offices in Toronto and Phoenix. The firm has more than 25 years' experience in the North American Real Estate sector, with its presence in the US going back to 2010.
"We are very excited to announce this partnership with a talented and experienced firm like Hopewell to develop a unique offering in the well-established DFW industrial market," said David Pahl, Managing Director, US Income Investments at GTIS. "We have long viewed the industrial/logistics sector in DFW as attractive and are pleased to have made our entry into the market with an asset like Champions Circle."
Stephen Tanenbaum, Managing Director and Head of Industrial/Logistics at GTIS, added, "GTIS' growing industrial/logistics platform is largely a continuation of GTIS' long track record as a diversified real estate developer and investor in the US. We feel the Champions Circle asset is a strong addition to our portfolio and will benefit from a number of long-standing tailwinds supporting market fundamentals."
Kevin Pshebniski, CEO of Hopewell, stated that "Hopewell is looking forward to our new partnership with GTIS, an industry leader in providing capital to the industrial real estate sector. We are pleased to kick off our expansion into the Dallas Fort Worth market with our new 3 building, amenity rich, Champions Circle Business Park. At Hopewell we are confident the project will be well received and satisfy the growing tenant demand for well located, best in class industrial product in the expanding Alliance marketplace."
About GTIS Partners
GTIS Partners is a leading real asset investment and development firm headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Paris and Munich. The firm was founded in 2005 by Tom Shapiro and is managed by President Tom Shapiro and Senior Managing Directors Amy Boyle, João Teixeira, Josh Pristaw, Rob Vahradian and Thomas Feldstein. The firm manages over $4 billion in gross assets and is active across a wide range of real estate sectors including single family and multifamily housing, office, industrial/logistics and hospitality as well as renewable energy infrastructure and opportunity zone investments. The firm invests at various points in the capital structure including credit, common equity and structured equity. In the US, GTIS has invested in over 130 assets across 40 unique markets including growth areas such as Phoenix, Dallas, Houston, Denver, Atlanta, Tampa and Charlotte. In Brazil, GTIS is among the largest real assets private equity firms with holdings including office, residential, logistics, hospitality and renewable energy investments. Marquee assets in São Paulo include the Infinity office building and Palácio Tangará, a five-star resort style hotel.
About Hopewell
Hopewell is the industrial and retail development division of the Hopewell Group of Companies, a Calgary-based firm with a proven track record in all aspects of commercial and residential real estate development nationwide. For almost 20 years, businesses of all sizes and in all industries have trusted Hopewell as one of North America's leading developers, to deliver intelligent and highly personalized commercial real estate solutions. To date, Hopewell has developed and sold more than 15 million square feet of industrial and retail space in the Greater Toronto Area, southwestern Ontario and all major centers across Western Canada. Hopewell's current land development portfolio exceeds 800 acres and represents over 12,000,000 square feet of future development. The firm's experience in the US dates back to 2010. Since 2010, the firm has been involved in the development of 12 industrial projects across the Phoenix and Las Vegas MSAs.
