The former president and chief executive officer of US industrial firm, First Industrial Realty Trust, has launched his own business aimed at co-investing private and institutional capital into the industrial sector.
Michael Brennan, who co-founded First Industrial, which invested with partners including The Carlyle Group, the Kuwait Finance House, UBS, ING and the California State Teachers’ Retirement System, will use his new firm, Brennan Investment Group, to target both single assets and portfolio acquisitions in the warehousing and light industrial sectors.
Brennan said in a statement: “We established Brennan Investment Group at one of the most opportune periods the industrial real estate market has ever seen.”
“With no legacy burdens, our firm is well positioned to capitalize on current and future market conditions in order to achieve outstanding risk-adjusted returns.”
Brennan will be joined at the firm by a number of industrial real estate professionals who have worked across more than 60 cities in the US, Canada and Europe, although Brennan Investment Group will primarily focus on US investments to begin with.
The business will be headquartered in Chicago.