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SALT LAKE CITY, December 06, 2021--(BUSINESS WIRE)--Bridge Investment Group Holdings Inc. (NYSE: BRDG) ("Bridge") and The Townsend Group ("Townsend") announced today that they have signed a definitive agreement forming a joint venture with options to deploy as much as $400 million of equity to acquire, develop, and operate global gateway institutional logistics assets within the United States.
"Bridge’s partnership with Townsend represents a significant milestone as we launch our value-add logistics strategy," commented Jay Cornforth, Chief Executive Officer and Co-Chief Investment Officer for Bridge’s Logistics Properties vertical. "We are excited to work together with Townsend to address the opportunities created by the significant demand growth and the structural infill supply limitations in key logistics markets."
Townsend has invested $7.9 billion in logistics in developed and developing markets globally since 2015. "Bridge is a skilled operating partner and well positioned to execute on this gateway, infill logistics market strategy. The strategic approach to developing a portfolio and hands-on nature of Co-Chief Investment Officers Jay Cornforth and Brian Gagne distinguishes their presence and access in the market," said Scott Miller, Partner, Townsend Group.
About Bridge Investment Group
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $31.8 billion of assets under management as of September 30, 2021. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: logistics properties, multifamily, affordable housing, seniors housing, office, development, logistics net lease, debt strategies, and agency mortgage-backed securities.
About The Townsend Group
The Townsend Group is a leading investor in real estate and real assets managing $19.7 billion (USD) in global AUM. Townsend invests through client investor consortiums consisting of sponsored fund products and complementary separate accounts. Townsend works with leading global investors and operating partners as a strategic, investment and capital solutions provider. Additionally, Townsend advocates for investors representing nearly $140 billion (USD) in private and public real assets globally.
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical facts may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "outlook," "could," "believes," "expects," "potential," "opportunity," "continues," "may," "will," "should," "over time," "seeks," "predicts," "intends," "plans," "estimates," "anticipates," "foresees" or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that any such forward-looking statements are based on our beliefs, assumptions and expectations as of the date made of our future performance, taking into account all information available to us at that time. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Actual results may differ materially from those express or implied in the forward-looking statements as a result of a number of factors, including but not limited to those risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge Investment Group Holdings Inc. undertakes no duty to publicly update any forward-looking statements made herein, whether as a result of new information, future developments or otherwise, except as required by law. Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of the Company or any investment fund managed by the Company or its affiliates.
This press release has been prepared solely for informational purposes and is not to be construed as investment advice or an offer or a solicitation for the purchase or sale of any financial instrument, property, or investment. It is not intended to provide, and should not be relied upon for, tax, legal, or accounting advice. The opinions, estimates, forecasts, and statements of financial market trends are subject to change without notice due to changes in the market or economic conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. The information contained herein reflects the views of the author(s) at the time the article was prepared and will not be updated or otherwise revised to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date the press release was prepared. Townsend Holdings LLC is a federally Registered Investment Advisor with the U.S. Securities and Exchange Commission.
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Bridge Investment Group Investor Relations Contact:
Bridge Investment Group Holdings Inc.
The Townsend Group Contact:
Townsend Holdings LLC d/b/a The Townsend Group, an Aon Company