CHARLOTTE, N.C.--(BUSINESS WIRE)--Feb 3, 2025--
Barings, one of the world’s largest diversified real estate investment managers, and Trinity Capital, a Charlotte-based commercial real estate development firm, announced today that they have commenced construction on Phase II of Horizon 16 Industrial Park, a joint venture logistics park in Savannah, GA. Phase II will focus on six buildings across 1.5 million square feet of Class-A industrial space designed to meet the needs of regional, national, and international distributors, manufacturers, and logistics firms.
“We are pleased to expand our relationship with Trinity Capital and together capitalize on Savannah’s favorable long-term industrial fundamentals, which support construction near strategic infrastructure,” said Maureen Joyce, Barings’ Head of US Real Estate Equity.
Horizon 16 Industrial Park is strategically positioned on Jimmy Deloach Parkway and Interstate 16, and remains one of the last developable land parcels that can accommodate bulk distribution within 15 miles of the Port of Savannah, which offers access to major East Coast markets. Phase II will build on Barings’ successful completion of Phase I, which spans 1.1 million square feet across three buildings and is 74% leased to notable tenants like Ferguson and Harbor Freight.
“We’re honored to continue our partnership with Barings as we enter a new market,” said Jordan Quinn, Partner, Industrial at Trinity Capital. “This dynamic project further solidifies our commitment to developing high-quality industrial space in key growth markets across the East Coast.”
The project highlights the ongoing partnership between Barings and Trinity Capital, who together developed 85 Exchange, a 1.3 million square foot industrial park located outside of Charlotte, North Carolina with notable tenants at the park including Amazon.
CBRE’s William Lattimore is handling leasing duties for Horizon 16. Evans is serving as the Park’s general contractor and Atlas is the architect.
About Barings
Barings is a $421+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.
*Assets under management as of December 31, 2024
About Trinity Capital
Trinity Capital Advisors focuses on the acquisition and development of institutional-quality commercial real estate in the southeastern United States. The firm has invested more than $4.5 billion acquiring and developing more than 30 million square feet of the most successful workplace real estate projects in North Carolina, South Carolina, Tennessee, and Florida, including CBD office towers, industrial portfolios, suburban office parks, and mixed-use developments. Investments are capitalized through various Trinity Capital investment vehicles and partnerships with some of the country’s top institutional investors. Learn more at trinitycapitaladvisors.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250203616818/en/
CONTACT: For Barings:
[email protected] Trinity Capital:
Molly Carroll
[email protected]|704.604.5740
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA GEORGIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY REIT
SOURCE: Barings
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PUB: 02/03/2025 09:00 AM/DISC: 02/03/2025 09:02 AM
http://www.businesswire.com/news/home/20250203616818/en
