Boston-based AEW, which provides real estate investment management services to investors worldwide, recently was awarded asset management responsibilities for the portfolio by a private client. The properties, which each average 500,000 square feet, were part of a joint venture between an industrial developer and private capital partner that recently dissolved.

Located in the Mid-Atlantic and Midwest, as well as California, Georgia and Texas, all 12 buildings are 100% occupied by single tenants, according to Steve Pumper, executive managing director of Transwestern's investment and asset management services. The property management team will be comprised of Glen Fernald, Steve Smith, Christy Means, Lyla Gambow, Dave Rock and Russell Lindscomb.

Pumper tells GlobeSt.com that Transwestern competed against two other firms for the property management assignment, submitting an RFP after visiting the properties and conducting thorough due diligence. The firm has worked with AEW on previous projects in the Mid-Atlantic region and California.

"We liked Transwestern's national platform," says Matthew Tracy, the portfolio's asset manager at AEW. "They had regional offices close to where these assets are located, and they did their homework for the RFP."

Pumper says Transwestern will focus on property operations, making sure that the buildings are running as efficiently as possible. "We will look to create cost savings in the portfolio where appropriate," he adds.

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Transwestern Nabs 5M-SF Industrial Assignment

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