Capitalizing on the rise of e-commerce and the increasing demand for last mile distribution, real estate executive Cary Goldman has launched a new venture, Timber Hill Group LLC, a private equity firm specializing in the acquisition and development of logistics-related industrial real estate. Headquartered in Chicago, Goldman will target value-add product in major markets throughout the Midwest, investing in properties that are core components of the global supply chain.
“There has been a monumental shift in industrial real estate in recent years and we feel the timing is right,” said Goldman. “An increasingly consumer-centric supply chain is changing where and how products are moved throughout the U.S. Timber Hill will invest in properties that enhance the ‘last mile’ delivery of products to consumers in major population centers.”
A career industrial real estate specialist, Goldman spent the last 16 years as a principal at Sitex Group, a company he co-founded in 2002. While there he executed on eight discretionary private equity real estate funds, assisting many of the largest and most innovative companies in the U.S. with complex real estate transactions. He has been a trusted fiduciary investing equity for private investors, family offices and most recently an eight-year, joint venture relationship with the State Teachers’ Retirement System of Ohio. Under his leadership at Sitex Group, the firm acquired over 100+ properties valued at more than $800,000,000.
Joining Goldman as a partner and head of Timber Hill’s asset management and construction divisions is Ryan Battistoni. He has focused primarily on industrial real estate during his 11-year career, completing more than $250 million in development and construction projects and has been responsible for overseeing more than 12.5 million square feet of space across the U.S. Most recently, Battistoni oversaw national portfolio operations for Sitex Group.