Manulife IM Partners with Foundry Commercial for Strategic IOS Development

Author

Slice of Real Estate Team
July 08, 2024

Key Highlights:

  • Strategic partnership: Manulife IM and Foundry Commercial team up for IOS projects.

  • Target markets: 10 sites across Atlanta, Nashville, Dallas-Fort Worth, and Jacksonville.

  • Investment focus: Part of a broader strategy in industrial and residential sectors.

Source (PR Newswire)

Notable Quotes:

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"Our investment in IOS is part of a larger alternatives strategy to invest in industrial and residential adjacent sectors with significant tailwinds. Partnering with Foundry was a logical choice given their extensive expertise as a top tier industrial developer and considerable knowledge in IOS."

Jessica Harrison, Head of Transactions & Capital Markets, Real Estate Equity, U.S. at Manulife IM
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"We are thrilled to form this new strategic partnership with Manulife IM. Together we seek to drive compelling investment performance for investors as early entrants into this growing and exciting alternative property type of IOS."

Pryse Elam, Chief Investment Officer at Foundry Commercial
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"Expanding our real estate equity platform and our core plus strategy with exposure to high conviction sectors such as industrial outdoor storage and access to this well positioned portfolio with Foundry is a natural extension of our broader, global investment strategy."

Maggie Coleman, Chief Investment Officer, Real Estate Equity, North America at Manulife IM

Our Take:

This partnership between Manulife Investment Management and Foundry Commercial signifies a strategic move into the growing sector of industrial outdoor storage (IOS), capitalizing on the increasing demand for industrial space with lower capital costs. By targeting key infill markets in the Southeast, the collaboration aims to leverage both companies' strengths—Manulife's vast investment management experience and Foundry's extensive local market expertise. This approach is likely to yield significant risk-adjusted returns and offers a diversified investment strategy aligned with long-term market trends. The move underscores the importance of niche real estate sectors in contemporary investment portfolios, providing substantial growth potential for forward-thinking investors.