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Chicago & Midwest  + Midwest  + Industrial  |  May 11, 2021
Paul Bubny
By: Paul Bubny

CBRE Arranges $165M Industrial JV in Minneapolis, Austin and Denver

CBRE arranged a $165-million joint venture platform partnership between United Properties and PCPP on an 11-building industrial portfolio to scale a development program focused on high growth markets.

Phase I of the platform has a pipeline of 11 properties totaling 1,403,341 square feet, located in the strategic logistic markets of Minneapolis Denver, and Austin. The JV partnership has the potential to carry into Phase II with development of an additional 18 buildings totaling 2,286,404 square feet.

The CBRE Minneapolis Institutional Properties team of Judd Welliver, Sonja Dusil, Ryan Watts, Bentley Smith and Tom Holtz, along with CBRE Capitol Advisors’ Gordon Reynolds, Brian Myers and Joe Lee, arranged the partnership on behalf of Minneapolis-based United Properties.

“Establishing this platform partnership between United Properties and PCCP was a tremendous vehicle to allow United Properties to execute an expedited development plan while allowing PCCP to deploy capital in a streamlined process,” said Dusil.

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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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