Industrial Developments International

Industrial Developments International (IDI) was a privately held industrial real-estate company established in Atlanta in 1989 by Henry “Greg” Gregory and partners including Timothy Gunter. The company was created with approximately $35 million in backing from Japan-based Kajima Corporation and a bridge loan from First Union National Bank, now part of Wells Fargo. From its beginning, IDI pursued a national rather than purely local development model, seeking to serve corporate occupiers that required industrial, distribution, and logistics facilities in multiple markets. The company’s activities covered the industrial-property life cycle. It planned and developed facilities, arranged investment and ownership interests, managed properties, and leased space to occupiers. Its development work included market research, site selection and review, design, construction management, sustainable-design and LEED consulting, and multimarket program planning. Projects ranged from roughly 80,000 square feet to more than 1 million square feet. Examples associated with the company included facilities for Mitsubishi Electric Cooling & Heating, the Speedway Distribution Center, and Riverside Business Center in the Atlanta area. IDI expanded across the United States and also developed industrial facilities in Canada and Mexico. At different points it maintained offices in Atlanta, Memphis, Chicago, Cincinnati, Southern California, Dallas, and South Florida. The company reported a substantial operating platform: approximately 115 million square feet of industrial space developed over its history, around 50 million square feet under property management, and ownership or investment interests in approximately 36 million square feet of investment-grade assets. In 2013, nearly 7 million square feet was reported to be under development across nine states, while the company described 8 million to 12 million square feet of move-in-ready industrial, office, and distribution space as available at a given time. IDI’s ownership changed as institutional real-estate investment became increasingly concentrated. Brookfield Asset Management agreed to acquire the company from Kajima for approximately $1.1 billion, and the transaction was associated with Brookfield’s acquisition of IDI in 2013. In 2014, Brookfield combined the IDI identity with Gazeley, its European industrial-property business, under the co-branded name IDI Gazeley Brookfield Logistics Properties. After Gazeley was sold in 2017, the North American business became known as IDI Logistics. In 2018, IDI Logistics was sold to Ivanhoé Cambridge and Oxford Properties in a 50-50 joint venture. Consequently, Industrial Developments International is best treated as a historical corporate brand whose operating platform continued under successor names rather than as an independently active brand.

Industrial Developments International was founded in Atlanta in 1989 by Henry “Greg” Gregory and several partners, including Timothy Gunter. Its initial capital structure included approximately $35 million from Kajima Corporation, a Japan-based parent company, together with a bridge loan from First Union National Bank, which later became part of Wells Fargo. IDI was established at a time when industrial development was often organized around individual metropolitan markets. Its distinguishing approach was to coordinate development nationally so that customers with geographically distributed operations could obtain facilities through one platform. The company developed a business model spanning development, investment, property management, and leasing. Its work included market research, site and land evaluation, design, construction management, sustainable-design consulting, and the delivery of industrial, office, and distribution facilities. Building sizes varied from approximately 80,000 square feet to more than 1 million square feet. IDI’s projects included facilities associated with Mitsubishi Electric Cooling & Heating, Speedway Distribution Center, and Riverside Business Center in Atlanta. It also developed facilities in Canada and Mexico, extending its geographic scope beyond the United States. By 2013, IDI had become a sizeable North American industrial-property platform. It stated that it had developed approximately 115 million square feet over its history, managed about 50 million square feet, and held ownership or investment interests in roughly 36 million square feet of investment-grade assets. At that time, approximately 7 million square feet was under development in nine states. The company also described a rolling inventory of 8 million to 12 million square feet of move-in-ready industrial, office, and distribution facilities. Its leasing activity included more than 2 million square feet leased during the first fiscal quarter of 2013 across eight markets, although the available reference does not identify the fiscal year’s complete results. The ownership history then became the central turning point in the brand’s development. Brookfield Asset Management agreed to buy IDI from Kajima for approximately US$1.1 billion, with the acquisition associated with 2013. In 2014, Brookfield co-branded IDI with Gazeley, its European industrial real-estate business, as IDI Gazeley Brookfield Logistics Properties. This structure positioned the company as part of a broader international logistics-property platform while retaining the established IDI name in North America. In 2017, Gazeley was sold and the North American operation adopted the name IDI Logistics. In 2018, IDI Logistics was sold to Ivanhoé Cambridge and Oxford Properties through a 50-50 joint venture. The transaction marked the end of IDI as a Brookfield-owned standalone identity. The company’s development and logistics activities therefore continued through successor ownership and branding, but the original Industrial Developments International brand should be regarded as historical or discontinued rather than currently independent.

• 2018

  IDI Logistics is sold to Ivanhoé Cambridge and Oxford Properties

  [1]Industrial Developments Internationalen.wikipedia.org

  The logistics platform is transferred to a 50-50 joint venture between Ivanhoé Cambridge and Oxford Properties.

• 2017

  The business adopts the IDI Logistics name

  [1]Industrial Developments Internationalen.wikipedia.org

  After Gazeley is sold, the North American business is known as IDI Logistics.

• 2014

  IDI and Gazeley are combined under a co-branded identity

  [1]Industrial Developments Internationalen.wikipedia.org

  Brookfield co-brands the businesses as IDI Gazeley Brookfield Logistics Properties.

• 2013

  Brookfield acquires IDI from Kajima

  [1]Industrial Developments Internationalen.wikipedia.org

  Brookfield Asset Management agrees to acquire the privately held industrial-property company from Kajima for approximately US$1.1 billion.

• 1989

  Industrial Developments International is established in Atlanta

  [1]Industrial Developments Internationalen.wikipedia.org

  Henry “Greg” Gregory and partners, including Timothy Gunter, establish IDI with financial backing from Kajima Corporation and a bridge loan from First Union National Bank.

A nationally coordinated industrial and logistics real-estate platform serving corporate occupiers, investors, and property owners across North America.

• Commercial real estate development · 1989

  Industrial development

  IDI developed industrial, office, distribution, and logistics facilities throughout North America. Its process could include market research, site selection, site review, design, sustainable-design consulting, and construction management. Projects ranged from approximately 80,000 square feet to more than 1 million square feet and were intended for corporate occupiers and distribution users.

• Real-estate investment management

  Investment management

  The company provided investment-management capabilities connected with industrial real estate and held ownership or investment interests in investment-grade assets. The platform was designed to combine development expertise with the acquisition, ownership, and management of income-producing industrial properties.

• Commercial property management

  Property management

  IDI managed industrial and related commercial properties for its own investment platform and other interests. The company reported managing approximately 50 million square feet across North America during the period described in its reference material.

• Commercial real-estate leasing

  Leasing services

  IDI leased industrial, distribution, and related commercial facilities across its market network. Its leasing operation supported both newly developed and existing properties and was part of the company’s integrated offering to occupiers seeking space in multiple metropolitan areas.

• 2018

  Sale to Ivanhoé Cambridge and Oxford PropertiesM&A

  Background

  Brookfield divested the logistics-property business after the earlier IDI and Gazeley combination and subsequent separation.

  Action taken

  IDI Logistics was sold to Ivanhoé Cambridge and Oxford Properties in a 50-50 joint venture.

  Aftermath

  The transaction ended Brookfield ownership and marked the continuation of the platform under new ownership rather than under the original IDI corporate brand.

  Source

• 2017

  Transition to the IDI Logistics identityStrategy

  Background

  Gazeley was sold, separating the European business from the North American IDI operation.

  Action taken

  The remaining business adopted the IDI Logistics name.

  Aftermath

  IDI Logistics was subsequently sold to Ivanhoé Cambridge and Oxford Properties in 2018.

  Source

• 2014

  Co-branding with GazeleyStrategy

  Background

  Brookfield owned both IDI and Gazeley, a European industrial real-estate company, and sought to present the businesses as a connected logistics-property platform.

  Action taken

  The companies were co-branded as IDI Gazeley Brookfield Logistics Properties.

  Aftermath

  The co-branded identity lasted until Gazeley was sold in 2017, after which the North American operation used the IDI Logistics name.

  Source

• 2013

  Brookfield acquisition from KajimaM&A

  Background

  Kajima had backed IDI since its establishment, while Brookfield sought to expand its industrial and logistics real-estate platform.

  Action taken

  Brookfield agreed to acquire Industrial Developments International for approximately US$1.1 billion.

  Aftermath

  IDI became part of Brookfield’s real-estate operations and was later combined in a co-branded platform with Gazeley.

  Reported acquisition value. US$1.1 billion (2013)

  Source

1. 1Industrial Developments Internationalen.wikipedia.org