Xebec Logistics Trust, LP® Celebrates Fifth Year Anniversary Surpassing $1 Billion of Industrial Logistics Properties Under Management
Joaquin de Monet Joins Executive Management Team to Lead Xebec Logistics Trust into Next Phase of Growth
DALLAS AND LOS ANGELES – (October 19, 2022) – Xebec Logistics Trust, LP (XLT®), an open-ended private real estate investment fund singularly focused on the industrial logistics real estate sector, celebrates its fifth anniversary with a major growth milestone and announcement of new executive leadership. XLT was established by Xebec in June 2017 with an $86 million portfolio of high quality, stabilized core and core-plus industrial logistics properties. Over the past five years, Xebec has grown the managed portfolio of real estate assets to more than $1 billion. Additionally, Joaquin de Monet has joined Xebec as an executive vice president to lead all aspects of XLT’s fund management, including acquisitions, asset and portfolio management, and fundraising and capital markets.
XLT’s success is attributed to its ability to acquire newly developed assets from Xebec’s proprietary off-market development pipeline, as well as a strategy focused on acquiring high-quality industrial logistics assets from third-party sellers in established coastal gateways, inland ports and select emerging markets. Through this strategy, XLT’s portfolio has grown to include interests in 18 properties encompassing approximately 3 million square feet of industrial logistics assets jointly owned with an institutional investor and managed by Xebec. The substantial majority of the current portfolio of properties are located in Southern California, with additional properties the strategic markets of Central Florida, Charleston, South Carolina, and Chicago, Illinois.
“This is an exciting time for both XLT and Xebec. The impact of the COVID-19 pandemic on commercial and retail distribution catalyzed the already strong growth story for industrial logistics real estate,” said Randy Kendrick, CEO and founder of Xebec. “Joaquin joins the Xebec family as we push to accelerate the growth of XLT amidst retailers’ increased need for greater inventory levels, decentralized distribution networks and last-mile fulfillment centers. Joaquin has had tremendous success building and managing multi-billion dollar real estate businesses and portfolios, and we expect that success will continue here.”
Mr. de Monet has more than 35 years of experience as a global real estate executive and previously was the founder and chief investment officer at Palisades Capital. Before founding his own firm, he was with GE Capital for more than 16 years. During that period, he served as president and CEO of Arden Realty, GE Capital’s national operating platform for office and industrial properties with over $5 billion assets under management. At the height of the Great Recession, de Monet founded and led a Global Center of Excellence (COE) for Leasing and Operations to accelerate best practices and lessons learned across GE Capital’s $25 billion global commercial real estate portfolio in North America, Europe, and Asia. Mr. de Monet also led GE Capital’s Mexico real estate business at a time when GE Capital was the largest and most active foreign investor in the country, completing transactions totaling more than $3 billion.
“I’m honored to be leading XLT. Randy and the entire team at Xebec have created a platform that is rooted in 35 years of successful real estate development and investment management that is poised for growth in the current market conditions,” said de Monet. “We’re heading into an exciting period with XLT and I’m ready to take the reins and grow this fund to its true potential.”
XLT’s portfolio growth capitalizes on the current and long-term market trends that have demonstrated resiliency throughout the pandemic. Future growth is also expected to be driven by acquiring assets from Xebec’s pipeline that currently consists of more than 18 million square feet of planned development with an estimated value at stabilization of $4 billion. These future properties are located in key XLT target markets including Southern California, Columbus, Ohio, Louisville, Kentucky, Dallas, Texas, Savannah, Georgia, New York and New Jersey.
“Over the past five years, XLT has experienced significant growth while delivering attractive returns to investors,” said Jay Soni, president of Xebec. “There is a lot of opportunity for continued growth in the industrial logistics sector, and we’re confident Joaquin can lead XLT in its continued growth.”
Mr. de Monet believes XLT is well positioned for continued long-term growth, in part because of the need for retailers to have on-hand or just-in-case inventory – a result of the supply chain strain experienced during the pandemic – and the reshoring trends driving demand for core and core plus assets.
“We plan to continue to grow our portfolio of investments in high-quality assets that we expect will deliver long-term consistent and stable cash flows, with the potential for additional investor return through appreciation,” said de Monet.
Xebec Logistics Trust, LP is a privately held, open-ended real estate fund investing in, owning and managing, and selectively developing and redeveloping, a portfolio of core and build-to-core industrial assets in tier-one logistics markets creating a diversified pool of core and “core plus” industrial assets for current income and growth through asset appreciation, a portion of which are wholly-owned through entities owned by XLT and the balance of which are owned through a joint venture entity with an institutional capital partner, but which are managed by XLT. XLT seeks to achieve strong risk-adjusted returns for its investors, with the consistency of industrial property returns and a value-added component derived from Xebec’s over 35-year development expertise. XLT is controlled by Xebec Logistics Trust GP, LLC, its general partner, and the XLT portfolio is managed by Xebec Asset Management, LLC, each wholly owned subsidiaries of Xebec. Xebec Asset Management is a Registered Investment Advisor with the Securities and Exchange Commission under the Investment Advisers Act of 1940. For more information, please visit http://xebeclogisticstrust.com.
Xebec is a privately held real estate investment platform that provides vertically integrated and full-service real estate acquisition, development, ownership, financing, leasing, property management and real estate investment management services. With an over 35-year operating history, the company focuses on fulfillment, warehouse, and distribution centers (bulk logistics), light industrial and infill/last-mile properties located primarily in U.S. coastal and inland logistics markets with major port and rail terminals and trucking intermodal infrastructures. Xebec has deep industry roots and relationships with institutional capital partners and has an executive team with more than 100 collective years of experience across real estate acquisition, development, equity capital markets, debt financing and asset management. For more information, please visit https://xebecrealty.com.