Industrial Program to Continue Targeting Equity Stakes in Shovel-Ready U.S. Logistics Projects of 200,000-500,000 SF, New Workforce Housing Strategy Seeks up to $500M of Acquisitions
January 9, 2025 – Los Angeles – Standard Real Estate Investments, LP (Standard), a minority-owned national real estate investment and development firm with offices in Los Angeles and Washington, D.C., has expanded its investment ventures with assets managed by GCM Grosvenor, (Nasdaq: GCMG), a leading global alternative asset management firm, adding up to $600 million of new investment capacity for industrial and multifamily transactions.
In addition to a new tranche of capital for the existing industrial program targeting equity investments in U.S. industrial property developments, the GCM Grosvenor capital relationship will support Standard’s workforce housing multifamily strategy that is pursuing $500 million of acquisitions in selected U.S. markets.
“We’re proud to announce this important expansion of our programs with GCM Grosvenor. They have been outstanding partners for Standard in the growth of our business, supporting our ability to pursue and close the right deals in a challenging capital environment,” said Robert Jue, CEO of Standard. “Standard is a boutique diversified investment manager with a national footprint and institutional approach. We think private real estate bought at this stage of the cycle could provide a more attractive risk-return profile than other asset classes, and we are well positioned to capture the increased investor demand we anticipate seeing in the space.”
Peter Braffman, Managing Director at GCM Grosvenor, added, “We are excited to expand our successful partnership with the Standard team. We believe they will continue to source and execute attractive investments across the multifamily and industrial sectors, driving strong outcomes for our investors.”
On the industrial side, the new tranche of equity capital enables Standard to continue the initial program with GCM Grosvenor that supported four industrial investments across the United States with Gross Asset Value (GAV) of $152 million. Standard completed the first disposition from that program last month with the sale of a newly constructed 217,000-square-foot logistics facility located on a 17-acre parcel in the Village of Woodridge, IL. “We continue to be excited about the dynamics of the industrial development market and look forward to further investments within the program, including our current pipeline of deals in Arizona and Texas,” Mr. Jue added.
Standard’s workforce housing strategy targets $50 to $150 million institutional quality multifamily properties in selected U.S. markets. Currently Standard is bidding on properties that suit its investment criteria in Washington, D.C., Philadelphia, Northeastern markets surrounding New York City (New Jersey, Connecticut), Chicago, Seattle and California’s Central Valley. “The persistent shortage of homes and apartments in the United States means durable demand for naturally occurring affordable housing and, at the same time, high-quality multi-family communities can currently be purchased with in place cashflow and at a discount to replacement cost in most markets,” Mr. Jue noted.
About Standard Real Estate Investments
Standard Real Estate Investments (Standard) is a real estate private equity company that manages capital on behalf of institutions. It operates nationally, across property sectors and risk profiles. The current investment focus is on the development of industrial warehouses and acquisition of workforce housing communities. The leadership team at Standard has invested in assets valued at over $8 billion in total. For more information, visit www.standardrei.com.
About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: https://www.gcmgrosvenor.com/.
MEDIA CONTACTS
Standard:
Eric Waters - eric.waters@greatink.com
Jimmy Lappas - jimmy.lappas@greatink.com
GCM Grosvenor:
Tom Johnson - tom.johnson@h-advisors.global
Abigail Ruck - abigail.ruck@h-advisors.global
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