Outrigger Industrial Completes Two Buildings Totaling More Than 400,000 Square Feet

Executive Team Launches New Company – Outrigger Industrial, LLC

Published by Anthony Citrano on December 17, 2024

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A New National Integrated Development, Acquisition, and Investment Management Platform Establishes Six Offices Across the United States

Chicago, Illinois – December 17, 2024 Four industrial real estate executives, in partnership with investment firms Davidson Kempner Capital Management and Monarch Alternative Capital, announce the launch of their new venture Outrigger Industrial, LLC (“The Company”).

Outrigger Industrial will seek new industrial development and acquisition opportunities, leveraging its national footprint and six offices throughout the United States. The company will also function as the external advisor to the private REIT, Centris Industrial, and service the existing CA Industrial platform assets.

Outrigger Industrial is led by seasoned real estate executives Michael Podboy, Joe Trinkle, William Lu, and Steve Rowley, who previously served as the leadership team of the CA Industrial platform as well as the Centris Industrial REIT. In addition, Scott Henderson, Jimmy Hwang, and Adam Niemeyer, as well as the remaining CA Industrial platform employees, have also joined the new venture. The Outrigger Industrial team has worked together for more than five years and during that time has developed and acquired approximately 10M square feet of industrial buildings across 15 markets for a total investment value of nearly $1.3B.

“We are elated to expand our relationship with Davidson Kempner and Monarch, who bring capital and operating expertise, which will be instrumental in achieving our growth initiatives in today’s market environment,” said Michael Podboy, Co-Founder & Managing Partner. “As we hit the ground running at Outrigger Industrial, our team’s extensive development and acquisition experience, enterprising culture, and track record of success allows us to ensure our stakeholders and employees stability and significant growth opportunities in the future.”

In addition to its headquarters in Chicago, Outrigger Industrial has offices in Los Angeles, Houston, Atlanta, Philadelphia, and Columbus. The company’s national portfolio includes Class A industrial development projects totaling 6.4M square feet with plans for an additional 1.4M square feet in the near-term pipeline.

About Outrigger Industrial, LLC:

Outrigger Industrial, LLC is a joint venture partnership between co-owners and managing members of PTLR, LLC (Podboy, Trinkle, Lu, and Rowley) and co-owners and investment firms Davidson Kempner Capital Management and Monarch Alternative Capital. Outrigger Industrial is strategically designed to invest in and develop industrial opportunities including ground-up development and value-add projects across the United States. The company is focused on infill and other high barriers to entry submarkets in major cities which exhibit strong macroeconomic and real estate fundamentals. Outrigger Industrial has offices in Chicago, Los Angeles, Houston, Atlanta, Philadelphia, and Columbus. For more information, please visit www.outriggerindustrial.com.

About Centris Industrial:

Centris Industrial (“Centris”) is an externally managed private real estate investment trust (REIT), comprised of investment funds advised by Davidson Kempner Capital Management LP (“Davidson Kempner”), Monarch Alternative Capital LP (“Monarch”) and Long Pond Capital LP (“Long Pond”). The REIT was created to strategically invest in ground-up industrial and logistics projects across the United States. For more information, please visit www.centrisindustrial.com.

About Davidson Kempner:

Davidson Kempner Capital Management LP is a global investment management firm with over 40 years of experience and a focus on fundamental investing with a multi-strategy approach. The firm has approximately $37B in assets under management – DKCM invests globally in a variety of credit and equity strategies as well as real assets. For more information, please visit www.davidsonkempner.com.

About Monarch Alternative Capital LP:

Monarch Alternative Capital LP is a global investment firm founded in 2002 with nearly $16B in assets under management. Monarch focuses primarily on opportunistic credit and real estate across various market segments and instrument types. Monarch draws on the skills and experience of its employees across its offices in New York, London, and West Palm Beach. For more information, please visit www.monarchlp.com.

Outrigger Industrial Media Contacts:

National & Midwest:

Michael Podboy, Co-Founder & Managing Partner

312-330-4035

mpodboy@outriggerindustrial.com

Southwest:

Joe Trinkle, Co-Founder & Managing Partner

281-779-6645

jtrinkle@outriggerindustrial.com

Southeast:

Steve Rowley, Co-Founder & Managing Partner

770-880-6075