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California  + Bay Area  + Finance  |  March 22, 2024
Paul Bubny
By: Paul Bubny

Accord Advises Bixby Land on Newly Established Industrial Fund

Accord Group Holdings LLC, a global real estate strategic investment and capital advisory firm based in San Francisco, served as the exclusive financial advisor to the Bixby Land Company in its establishment of Bixby Industrial Fund 1. Terms were not disclosed.

The recapitalization portfolio consists of five industrial properties: two located in Mira Loma, CA; two in Phoenix; and one in Atlanta. Goldman Sachs Alternatives and an Ares Management Real Estate Secondaries fund are equity investors in the newly established fund.

“Accord started advising Bixby Land on this transaction last April. To see this transaction come together successfully in less than a year with two highly experienced investment partners during a period of economic challenges for commercial real estate is a testament to the team at Bixby and Accord’s structuring capabilities,” said Jack Berquist, managing partner at Accord.

The initial portfolio consists of five industrial properties totaling more than 836,000 square feet of leasable space. The properties are currently 100% leased to a total of 10 tenants with a weighted average lease term of 2.4 years.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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