LOS ANGELES, August 15, 2024 – Industrial firm MDH Partners (MDH) today announced the opening of its Los Angeles office, adding to its headquarters in Atlanta and office in Dallas. Recently joining the firm as Vice President of Acquisitions, James Hwang will lead the SoCal office, spearheading acquisition opportunities across several West Coast markets.
“With the twin Ports of Los Angeles and Long Beach, rising population, and overall strong industrial fundamentals, California and surrounding states have been markets to watch for us for some time,” said Jeff Small, CEO of MDH Partners. “Establishing a Los Angeles office cements our confidence and long-term investment in this region as we remain bullish along the West Coast.”
After fully investing its $750 million Fund II, MDH also recently closed Fund III, equating to $1.2 billion in equity. The firm is dedicated to growing its footprint across the West Coast, including all major California markets as well as Salt Lake City, Las Vegas and Reno, Nevada. MDH first entered California in 2021 and currently owns nearly 700,000 square feet of industrial assets in the Inland Empire.
“MDH already has a presence in California, which we intend to build upon through Fund III,” says Hwang. “We are seeking investments across the risk spectrum, from stable core-plus acquisitions to speculative ground-up development.”
Hwang joined MDH in August 2024 and was formerly at Rexford Industrial, where he spent more than seven years as a market leader and was involved in the closing of more than 11 million square feet totaling $2.7 billion. MDH also recently appointed Chief Financial Officer Nathan Balmes, previously with Stonemont Financial Group. MDH Partners has remained very active this year, and currently owns or manages approximately 24 million square feet in 30 markets across the U.S.
According to JLL’s Q2 Industrial Report, the Inland Empire had an upswing in leasing activity with nearly 17 million square feet of leases signed, outpacing its leasing velocity by 2 million square feet year-over-year. Net absorption was also positive, with five move-ins in the 1 million-square-foot range last quarter.
About MDH Partners
MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $7 billion (90 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com
