Brookfield, Hillwood Launch $1B Industrial Property Venture

Law360, New York (March 14, 2012, 2:43 PM EDT) -- Canada's Brookfield Asset Management Inc. and Ross Perot Jr.'s Hillwood Development Corp. are partnering up in a $1 billion joint venture to pool their resources and take a significant bite out of the reawakening U.S. industrial property market, the companies announced Wednesday.

Putting up an initial equity commitment of $400 million, the venture plans to invest more than double that within the next three years to acquire and develop properties — primarily warehouses — across the country, the companies said.

Brookfield has put up $160 million,...
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