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BOSTON, Oct. 26, 2022 /PRNewswire/ – Manulife Funding Administration is happy to announce the acquisition of Alliance Gateway 11, a 788,160 sq. foot industrial warehouse positioned within the NE Tarrant/Alliance submarket of Fort Value, Texas. The property is 100% leased to a well known giant scale tenant on a long-term lease, occupying the constructing as an e-commerce achievement facility.
The constructing is strategically positioned on a 38.2 acre web site that’s vital to the tenant as there are over 1.67 million individuals dwelling inside a 20-mile radius of the property. As well as, the property is positioned close to the Fort Value Alliance Airport, BNSF Railway Intermodal Facility, and main thoroughfares, together with freeway 114, 170, and Interstate 35.
The Dallas-Fort Value–Arlington space is at the moment the fourth largest metropolitan statistical space in the USA, having grown by roughly 24% since 2010. The commercial market has grown by 223 million sq. toes, or practically 27%, because the starting of 2010, whereas sustaining a steady 5 – 6 p.c emptiness price over the identical interval.
“Our consumer’s portfolio technique is to extend its allocation to the economic sector by buying and creating trendy, useful warehouse property,” mentioned Pritesh Patel, CIO, Americas, and head of transactions, Manulife Funding Administration. “Alliance Gateway 11 represents an excellent long-term funding for his or her portfolio.”
Manulife Funding Administration develops and manages industrial actual property across the globe as a part of its complete non-public markets capabilities. As of March 31, 2022, it managed on behalf of shoppers over 63 million sq. toes of workplace, industrial, retail, and multifamily area strategically positioned in markets throughout Canada, the USA, and Asia Pacific. The group leverages its international platform and native experience to offer market-leading options for its tenants and ship outcomes for its funding shoppers.
About Manulife Funding Administration
Manulife Funding Administration is the worldwide model for the worldwide wealth and asset administration section of Manulife Monetary Company. We draw on greater than a century of economic stewardship and the complete sources of our father or mother firm to serve people, establishments, and retirement plan members worldwide. Headquartered in Toronto, our main capabilities in private and non-private markets are strengthened by an funding footprint that spans 19 geographies. We complement these capabilities by offering entry to a community of unaffiliated asset managers from around the globe. We’re dedicated to investing responsibly throughout our companies. We develop progressive international frameworks for sustainable investing, collaboratively interact with corporations in our securities portfolios, and preserve a excessive commonplace of stewardship the place we personal and function property, and we consider in supporting monetary well-being by means of our office retirement plans. At the moment, plan sponsors around the globe depend on our retirement plan administration and funding experience to assist their staff plan for, save for, and reside a greater retirement. Not all choices can be found in all jurisdictions. For extra data, please go to manulifeim.com.
SOURCE Manulife Funding Administration
