MDH Partners

What MDH Partners does

MDH Partners is a private real estate investment firm founded in 2005 and headquartered in Atlanta, Georgia, that invests in, develops, and manages industrial and logistics properties across the United States. The firm operates three discretionary value-add funds — Fund I ($350M, 2019), Fund II ($575M upsized to $750M in 2022), and Fund III ($1.2B equity closed in February 2024 with $3B of buying power) — alongside a separate account joint venture with a global institutional investor, collectively representing over $2.5B of equity assets under management and a portfolio spanning approximately 35-38.7 million square feet across 33 markets, concentrated in the Southeast and Southwest.

The firm pursues value-add acquisitions of warehouse, distribution, and logistics facilities at discounts to replacement cost, sourced both on-market and off-market through long-standing broker and seller relationships with national REITs, private equity funds, family developers, and corporate users. MDH complements acquisitions with a dedicated ground-up speculative development platform that has delivered over 4 million square feet since 2019, and selectively pursues mixed-use adaptive redevelopments such as Lee + White in Atlanta and Oakhurst Commons in Charlotte. Asset management is performed in-house across three offices (Atlanta, Dallas, and Santa Monica) by a 25-30 person team, with operations covering 30+ markets and recent portfolio metrics including 91% occupancy on a recently acquired seven-building portfolio and 100% occupancy at Ocala Logistics Center.

MDH earns revenue through asset management fees on committed fund and separate-account equity, acquisition and disposition transaction fees, development fees, and incentive participation above fund-level IRR hurdles, all of which are negotiated privately with its institutional investor base of university endowments, foundations, and a global institutional partner. Founding principals Jeff Small and Michael Pelt have produced 25%+ IRRs across three decades without ever losing investor capital or failing to close a contracted acquisition, underwriting their continued capital commitments and access to senior debt from Capital One, Truist, KKR Real Estate, Wells Fargo, JLL, and Regions Bank.

Name

MDH Partners

Legal name

MDH Partners

Website

https://mdhpartners.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

MDH Partners is an Atlanta-based private real estate investment firm managing over $2.5 billion in equity through industrial-focused discretionary funds and separate accounts, acquiring, developing, and managing warehouse and logistics properties across 33 U.S. markets for institutional investors.

Ownership category

akta.pro rank

Product category

Real Estate Private Equity

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro industry

PRIMARYFSANAHAN

Corporate Strategic Real Assets & Infrastructure Venture Investing

Financial & Insurance/Private Equity & Venture Capital/Corporate Venture Capital (CVC)

Keywords

• Industrial real estate investment
• Commercial property acquisitions
• Real estate asset management
• Logistics property development
• Real estate private equity

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management: MDH generates revenue through management of discretionary real estate funds (Fund I, Fund II, Fund III) for institutional investors including university endowments and foundations. Fund III totals $1.2 billion equity with $3 billion buying power.
2. Asset Management Fees: The firm earns fees for managing industrial real estate portfolios including acquisitions, development, and asset management services across 35 million square feet.
3. Acquisition and Disposition Transaction Fees: MDH participates in acquisitions, developments, and asset management transactions, having participated in over $7 billion of such activities. The firm acquires properties at discounts to replacement cost and creates value through repositioning.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

MDH Partners is a real estate private equity firm that invests in, develops, and asset-manages industrial and logistics properties in the United States on behalf of institutional limited partners. The firm operates three discretionary funds (Fund I at $350M, Fund II at $750M, Fund III at $1.2B equity / $3B buying power) and a separate account with a global institutional investor, providing value-add acquisitions, ground-up speculative development, and ongoing asset management across 35 million square feet in 33 markets.

Product overview

MDH Partners is a real estate private equity firm that offers investment management services through three discretionary funds (Fund I at $350M, Fund II at $750M, and Fund III at $1.2B equity). The firm specializes in industrial and logistics property acquisitions, development, and asset management, targeting industrial and e-commerce properties across 33 markets in the United States. Services include value-add acquisitions of industrial warehouses, speculative development of Class A logistics facilities, and asset management of a portfolio spanning 35 million square feet. The firm also engages in mixed-use redevelopments such as Lee + White (Atlanta) and Oakhurst Commons (Charlotte), combining entertainment, retail, and office components with industrial/logistics properties.

Differentiator

Problem solved

Functional benefit

Products and services

• MDH Fund I MDH's first discretionary industrial real estate fund that invests in value-add warehouse and logistics properties on behalf of institutional limited partners including university endowments and foundations.
• MDH Fund II MDH's second discretionary industrial real estate fund, launched with $575 million (subsequently upsized to $750 million in 2022) from the same institutional investors as Fund I, now fully invested.
• MDH Fund III MDH's third discretionary industrial real estate fund, closed in February 2024 with $1.2 billion of equity and $3 billion of buying power, currently being invested throughout the US with a focus on Southeast and Southwest markets.
• Industrial Property Acquisitions Direct acquisition of industrial and logistics properties at discounts to replacement cost from national REITs, private equity funds, family development companies, and corporate users, executed through on-market and off-market transactions.
• Speculative Industrial Development Ground-up development of Class A speculative industrial facilities in markets including Florida, Georgia, Tennessee, Texas, and Arizona, adding facilities to the portfolio at substantial discount to acquisition cost.
• Industrial Asset Management Ongoing asset management of the 35 million square foot industrial portfolio across 33 US markets, including leasing strategy execution, capital project oversight, and joint venture relationship management for institutional investors.
• Global Institutional Separate Account Separate account joint venture with a global institutional investor providing over $1 billion in assets for programmatic exposure to US industrial real estate under MDH's management.
• Adaptive Mixed-Use Redevelopment Development of adaptive mixed-use projects such as Lee + White in Atlanta and Oakhurst Commons in Charlotte, combining entertainment, retail, and office components with industrial/logistics properties.

Quantifiable outcome

• Consistently returned in excess of 25% IRRs on investments over three decades while never losing investor capital
• +2 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered significant and major.

• Parkside PartnerssignificantStrategic or Co-development Partner · 21 April 2026Oakhurst Commons mixed-use redevelopment in Charlotte's Oakhurst neighborhood is owned by Parkside Partners and MDH Partners, with new tenants including Brunches restaurant and The Queen's Mahjery mahjong studio being announced.
• CF Real Estate InvestmentssignificantStrategic or Co-development Partner · 27 May 2022MDH Partners and CF Real Estate Investments broke ground on a 1.2 million square foot speculative industrial development, combining development expertise and capital.
• Ackerman & Co.majorStrategic or Co-development Partner · 9 December 2020Ackerman & Co. and MDH Partners closed financing for Lee + White mixed-use redevelopment project in Atlanta's West End, a major adaptive reuse of warehouse district.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Seefried Industrial Properties: Seefried Industrial Properties is a privately held real estate firm specializing in industrial property development, leasing, and asset management across the US. Several MDH senior team members came from Seefried, reflecting highly comparable industrial focus and operating model.
• Clarion Partners: Clarion Partners is one of the largest US real estate private equity managers with broad sector exposure across industrial, multifamily, and office. They acquired M.D. Hodges Enterprises (MDH's predecessor) in 2005. Directly comparable as a US-focused real estate PE manager with institutional LP base.
• Crow Holdings Industrial: Crow Holdings Industrial is the industrial-focused arm of Crow Holdings Capital, a real estate investment manager. They focus on industrial/logistics acquisitions and development across the US, closely comparable to MDH's strategy and asset class focus.
• Dermody Properties: Dermody Properties is a national industrial real estate developer and investor focused on logistics and distribution facilities. They develop and acquire Class A industrial properties across the US, similar to MDH's industrial value-add and development platform.
• Bridge Industrial: Bridge Industrial is a private equity firm focused exclusively on industrial real estate in the US. They acquire, develop, and operate Class A logistics facilities, mirroring MDH's industrial-only strategy and value-add approach.
• Hillwood Investment Properties: Hillwood Investment Properties is a major US industrial and logistics real estate developer and investor. They develop and acquire Class A industrial facilities for institutional capital, comparable to MDH in strategy, asset class, and institutional LP base.

Broad incumbents

• GLP (Gazeley): GLP is a global logistics real estate operator and fund manager with significant US industrial presence. Several MDH team members came from GLP. As a global industrial specialist and capital partner, GLP is a major institutional competitor and potential partner for MDH.
• Rexford Industrial: Rexford Industrial is a public REIT focused exclusively on Southern California industrial properties. MDH's VP James Hwang previously worked at Rexford, where he closed $2.7B across 11.1M sq ft. Rexford represents a regional industrial incumbent competing for similar infill industrial assets.
• Prologis: Prologis is the world's largest industrial REIT with over $200B in AUM, dominating US logistics real estate. Several MDH executives came from Prologis. As a public industrial incumbent, Prologis represents the dominant competitive force MDH faces in acquiring and developing industrial assets.
• Blackstone Real Estate: Blackstone is the world's largest real estate PE manager with over $300B in real estate AUM. Blackstone acquired the original M.D. Hodges Enterprises portfolio in 1999 and again acquired the MDH/Bain joint venture portfolio in November 2018. They represent a mega-scale institutional buyer and former MDH counterparty.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mdhpartners

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MDH Partners