The Joint Venture will invest in IOS properties that provide storage space for vehicle parking, containers, trailers, construction materials, machinery, and other goods. Centerbridge is making this investment from its second real estate fund, which has $2.3 billion in capital commitments. Nicholas Schiloff, Managing Partner at Modal stated, “We are thrilled to team up with Centerbridge, whose extensive experience and proven success in real estate investing, particularly in the IOS sector, perfectly complement our strategic objectives. About ModalModal is a London-based investment manager that specializes in the acquisition and management of IOS assets across the U.K. and Europe. About CenterbridgeCenterbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — Private Equity, Private Credit and Real Estate — in an effort to develop the most attractive opportunities for our investors.

Source: The Bubble May 16, 2024 14:41 UTC