Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Texas  + Dallas-Fort Worth  + Industrial  | 

BentallGreenOak Commits to Invest $475M in Xebec-Sponsored Ventures

BentallGreenOak recently committed to investing $475 million of equity in Xebec-sponsored ventures. The strategic partnership includes an initial $170 million joint venture with Xebec Logistics Trust LP in a portfolio of stabilized core assets and an initial commitment of up to $305 million to Xebec’s future investment opportunities.

Xebec is a Dallas-based platform focused exclusively on the industrial and logistics real estate sector.

“Our new ventures with BGO provide Xebec with deep access to capital for both Xebec’s current core portfolio as well as future executions, which will accelerate Xebec’s investment strategy and we believe will create significant value,” said Randy Kendrick, Xebec’s co-founder and chief executive officer. 

XLT is an open-end sector specific fund established by Xebec in 2017 with a focus of providing investors with attractive income and total returns by investing in high-quality industrial logistics assets located in key U.S. logistics markets. BentallGreenOak’s majority investment in the joint venture formed with XLT funded the acquisition of five fully leased new class-A industrial logistics assets totaling 1.6 million square feet and developed by Xebec. 

With the completion of BentallGreenOak’s investment, the acquisition of these new assets and the contribution of XLT’s existing portfolio, the new joint venture is comprised of 13 industrial assets valued at approximately $560 million and totals approximately 2.8 million square feet. The portfolio is 100 percent leased with more than 80 percent of its value located in Southern California.

JLL Capital Markets advised the joint venture equity partnership.


Inside The Story

Randy Kendrick

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.