Xebec Logistics Trust (XLT) has reached a key milestone – just in time for its fifth anniversary.
The open-ended private real estate investment fund singularly focused on the industrial logistics real estate sector, has surpassed $1 billion in properties under management.
This week, the company also announced that 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.
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XLT's portfolio is primarily located in Southern California, with additional properties in Central Florida; Charleston, S.C.; and Chicago.
Randy Kendrick, CEO and founder of Xebec, said in prepared remarks that XLT will "push to accelerate the growth of XLT amidst retailers' increased need for greater inventory levels, decentralized distribution networks and last-mile fulfillment centers."
de Monet most recently led Palisades Capital and has more than 35 years of experience as a global real estate executive.
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