Westcore, a leading industrial real estate acquisition, development, and asset management firm, has secured an additional $500 million equity capital commitment from capital partner Arizona State Retirement System (ASRS) to support its plans for growth nationwide. ASRS’s investment brings a combined institutional equity capital commitment for Westcore to $1.3 billion. The firm anticipates that it will have the ability to invest or acquire $2.6 billion of industrial assets around the country, as reported by The Registry Bay Area.
Westcore will continue investing in strong primary and secondary markets with favorable supply-demand dynamics and growth potential. The company’s investments include high-quality core plus and value-added institutional industrial assets and development opportunities. During 2020 alone, Westcore acquired over $1 billion worth of industrial real estate, comprising over 11 million square feet of building space.
“We have a long track record in this sector and are confident in our ability to acquire both listed and off-market opportunities,” said Westcore Chairman Marc Brutten.
In addition to its robust acquisition activity, Westcore currently has 1.8 million square feet of new warehouse space in development in three national markets.
The Westcore portfolio currently covers 10 states across the US, with expansion into additional states planned for 2021.
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