LA: Karlin's Ambitious Plans
Karlin Real Estate—an investment arm of medical devices inventor Gary Michelson's family office—tells us it's planning its first ground-up development in Austin, Texas. Managing director Matt Schwab says the spec office building is located in a high-growth market fueled by Cali-based tech firms, and he expects it to fill quickly based on tenant proposals for its existing 2M SF and 300 acres in Austin.
Additionally, Matt says the company has plans to invest up to $1B overseas (instead of adding up all the numbers on his whiteboard, we'll take his word for it). The firm, which just opened a new office in London, expects to close its fourth acquisition in the UK by the end of this month. Other countries it's eyeing include Spain, The Netherlands, Denmark, Germany, and France. The company has both a debt and equity platform.
