Real estate investment group Box Equities LLC has reportedly announced a joint venture agreement with Washington DC-based private equity company Artemis Real Estate Partners LLC. The announcement illustrates the approach of Box Equities towards real estate, which comprises buying commercial properties in markets having loyal pools of labor.
In addition, the company works closely with authorities of local economic development to generate investment opportunities and create jobs throughout the United States.
Using this approach, Box Equities is catering to the increased demand for fulfillment and distribution centers that have arisen owing to the COVID-19 pandemic which worsened the labor shortage issue.
Mike Vu, the Acquisitions & Asset Management Principal at Artemis has cited that the company values the deep retail relationships and experience of Box Equities, which makes the partnership a beneficial prospect. He added that Box has an intrinsic understanding of the retailer-logistics interaction which gives the joint venture distinct expertise of recognizing new opportunities.
Haim Dabah, the Chairman of Box Equities has stated that manufacturers and retailers need a workforce that is efficient as well as reliable to move the products to customers.
By investing in sectors with pools of loyal labor, the company is curbing many issues currently experienced by the logistics industry, added Dabah.
Mac Dabah, the Managing Director of Box Equities commented that the company is delighted by this new collaboration and the depth of relationships, knowledge, and resources offered by Artemis. He added that the companies are seeking new opportunities that will expedite the growth of the joint venture as the supply chain crisis forces wholesalers and retailers to reform labor availability, locations as well as facilities.
For the record, Artemis has raised capital of around USD 6 billion across core plus, core, opportunistic, and value-add strategies. The company makes debt and equity investments in real estate across the U.S.