BALTIMORE- Dallas-Fort Worth-based Hillwood Investment Properties and Brookfield Asset Management have partnered to acquire two industrial facilities totaling 1.8 million square feet here. It is the latest acquisition the JV partners have made, following a slew of purchases around the country earlier this summer.

The two properties are located at 451 Fletchwood Rd., in the Elkton submarket, and 238 Belvidere Rd., in the Perryville submarket. They are 756,690 square feet and 1-million-plus square feet, respectively. The are Class A properties with high-credit tenants, according to Tom Fishman, Hillwood's EVP of Acquisition. In addition, the Belvidere Road facility in Perryville has active rail access that is served by CSX Railway.

This acquisition, the terms of which were not announced, follows deals closed by the Hillwood-Brookfield Industrial Partners fund in Atlanta, Ga., the Philadelphia area and Memphis, TN in recent months. In Atlanta, they acquired a 1-million-plus square-foot, Class A bulk distribution building called Jackson 85 was, located at 350 Raco Pkwy. The property was 52% leased at the time of its acquisition in August. Also in August, the two companies acquired a 600,000-square-foot Class A bulk distribution building in the Southern New Jersey/Greater Philadelphia industrial market. That same month, the JV acquired a 1.6 million square foot portfolio consisting of five Class A industrial buildings located within Southpark Distribution Center in Memphis. These buildings range from 111,250 to 474,000 square feet and have suite sizes ranging from 10,000 to 474,000 square feet.

The companies launched their JV in March of 2012, kicking off with an equity commitment of $400 million and plans to deploy up to $1 billion within the first three years. In June, Fishman joined Hillwood, which is a Perot Co., to help facilitate the investments.