HOUSTON, June 15, 2021 /PRNewswire/ -- Alliance Residential Company, one of the largest private residential real estate companies in the U.S., has launched Alliance Industrial Company, a new platform focused on essential warehouse logistics and distribution space development – a high demand and growing commercial market as e-commerce market share expands.
Headquartered in Houston and launched in May, Alliance Industrial Company's national operations are led by President and CEO Cyrus Bahrami, also a senior partner in Alliance's residential platform, who plans to leverage his company's relationships and track record in the capital markets, coupled with their national infrastructure, to create and run an industrial platform using a model similar to Alliance Residential. "This will be a decentralized model with a national backstop for accounting, finance and capital support. However, the business plan will be executed by local industrial leaders with deep market knowledge and development expertise in the industrial space," said Bahrami.
"E-commerce, as a percentage of national retail sales, continues to grow at a significant rate creating a critical need for more quality industrial warehouse and distribution space," said Bahrami. "We see that trend continuing and look forward to leveraging Alliance's national footprint, decades-long track record with top investment partners, and expertise as a premier developer to address the growing industrial market demand."
Recruiting experienced industrial market leadership was a key element in launching Alliance Industrial.
"We're thrilled to announce Chad Parrish, formerly Principal of Molto Properties and Market Leader of First Industrial's Houston market, has joined the Alliance Industrial team as Managing Director of Texas, overseeing the development, investment and construction activities in Austin, Dallas, Houston and San Antonio," Bahrami said. "Chad's experience, market knowledge and relationships in the space, make him the right person for the job."
Since 2014, Parrish has led the investment and development of more than $440 million in industrial projects, representing over 6.5 million square feet in six markets. He is a graduate of University of Missouri's Trulaske College of Business and earned an MBA with a concentration in finance from University of Missouri-Columbia. He is active in the local SIOR chapter, a NAIOP Forum member and serves on the board of the Houston NAIOP chapter.
"Texas is an ideal market to launch and establish Alliance Industrial," Parrish said. "With the in-migration of population, major transportation and logistics hubs in the region, and a pro-business environment, Alliance Industrial looks to move quickly to meet the ever-increasing industrial demand," Parrish said. "I'm excited to join the Alliance team and thrilled for the opportunity to expand their residential real estate expertise into the industrial market space."
Other senior members of the Alliance Industrial management team include Chief Financial Officer Brandon Fleetwood, Vice President of Construction J.D. Devine, and Development Director David Adame, all of whom are experienced leaders at Alliance Residential Company.
Houston-based Alliance Industrial Company provides hands-on targeted industrial real estate investment, development and construction capabilities focused on key distribution hubs throughout the nation. Through a combined 25-year track record of raising $16 billion in institutional-grade capital and debt, the opportunity to leverage Alliance Residential Company's national acquisition, development and construction infrastructure, and leadership with local expertise and relationships, Alliance Industrial Company is positioned for long-term national growth. For more details, contact [email protected] or [email protected]
Alliance Residential Company is one of the largest and most active rental residential real estate developers in the United States. Headquartered in Scottsdale, Arizona with 19 regional offices, Alliance is focused on the development, construction and acquisition of residential communities across 17 states and 33 metropolitan markets. Alliance develops high-end Broadstone multifamily communities, Holden senior housing communities, and workforce housing properties through its Prose brand. For more information, visit www.allresco.com