Timber Hill

What Timber Hill does

Timber Hill Group is a Chicago-based private equity real estate firm founded in 2018 by Cary Goldman, specializing in the acquisition, development, and management of Industrial Outdoor Storage (IOS) assets across the United States. The firm's portfolio encompasses managed truck parking facilities, outdoor storage yards, cross-dock truck terminals, line haul facilities, and build-to-suit freight terminals. Timber Hill serves institutional investors, family offices, and high net worth individuals through dedicated fund vehicles, and targets corporate tenants across the logistics value chain including trucking companies, e-commerce and parcel delivery operators (Amazon, FedEx, UPS), Class I railroads (Norfolk Southern), and industrial logistics users (Mainfreight, Penske, Home Depot). The firm positions itself as a pioneer of professional institutional ownership in a fragmented IOS sector historically dominated by small operators.

The firm operates two primary investment vehicles: TH Logistics Fund I, launched in September 2021 in joint venture with Champion Realty Advisors with a $150M asset acquisition target, and TH Cross Border Fund I LLC, launched in November 2024 to acquire IOS sites in Laredo, TX targeting cross-border trade logistics. Operating geographies span the Southwest, Sunbelt, and Midwest, with named markets including Chicago, Dallas-Fort Worth, Laredo, Jacksonville, Miami, Memphis, Houston, Kansas City, and Atlanta. The firm reports a portfolio of 16+ assets and has secured financing from Simmons Bank, CIM Group, and Eastdil Secured. Related entities include National Truck Parking (a managed truck parking brand) and Cinelease Studios-Three Ring (a film production campus in Covington, GA developed in joint venture with Woodvale LLC).

Revenue is generated through real estate investment returns on IOS assets acquired, developed, and repositioned, plus fees for asset management, development, construction oversight, and property management services. Individual transactions range from $5M to $75M per disclosed acquisition criteria. The firm's underlying capability is human capital and relationship-based — principal-level expertise from Goldman ($1.75B+ in career transactions) and COO Ryan Battistoni ($500M+ in development, 13M SF managed) — rather than any technology platform or proprietary tooling.

Name

Timber Hill

Legal name

Timber Hill Group LLC

Website

https://timberhillgroup.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Timber Hill Group is a Chicago-based private equity firm founded in 2018 that acquires, develops, and manages Industrial Outdoor Storage (IOS) assets including truck parking, outdoor storage yards, and freight terminals for institutional investors, family offices, and enterprise logistics tenants across major U.S. logistics corridors.

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Real Estate Investment Returns: Timber Hill generates returns through appreciation in value of IOS assets acquired, developed, and repositioned. The firm sells properties at improved values (e.g., quintupled O'Hare truck yard value from $3.2M to $15.4M) and generates rental income from tenants including trucking companies, e-commerce businesses, and railroads.
2. Asset Management and Development Fees: The firm earns fees for development, asset, construction, and property management services across its portfolio of IOS facilities including managed truck parking lots, outdoor storage yards, and freight terminals.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Timber Hill Group is a Chicago-based private equity real estate firm that acquires, develops, and manages industrial outdoor storage (IOS) assets for the logistics and transportation sectors. The firm invests through dedicated funds, develops build-to-suit freight terminals, and leases managed truck parking, outdoor storage yards, cross-dock terminals, and line haul facilities to trucking, e-commerce, railroad, and parcel delivery tenants.

Product overview

Timber Hill Group is a private equity real estate firm offering a portfolio of logistics-related industrial real estate products and investment vehicles. Its core offerings include Industrial Outdoor Storage (IOS) asset acquisition, development, and management services—encompassing managed truck parking, outdoor storage yards, cross-dock terminals, and line haul facilities. The firm operates two investment vehicles: TH Logistics Fund I (launched 2021) and TH Cross Border Fund I LLC (launched 2024). Under the National Truck Parking brand, the firm manages a national portfolio of truck parking lots. Through its joint venture with Champion Realty Advisors, Timber Hill also offers build-to-suit freight terminal development. Additionally, Timber Hill co-owns Cinelease Studios-Three Ring, a film production campus in Georgia.

Differentiator

Problem solved

Functional benefit

Brands

• National Truck Parking: National managed truck parking portfolio providing information and leasing opportunities for truck parking facilities throughout the U.S.
• Cinelease Studios-Three Ring
• TH Cross Border Fund I LLC
• TH Logistics Fund I

Products and services

• Industrial Outdoor Storage (IOS) Asset Investment

Quantifiable outcome

• Quintupled property value from $3.2M to $15.4M on O'Hare truck yard sale to Penske
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Woodvale LLCcoreStrategic or Co-development Partner · 11 November 2021Joint venture partner with Timber Hill Group for Cinelease Studios – Three Ring development in Covington, GA. Atlanta-based Woodvale LLC, founded by Rahim Charania, co-owns and co-develops the film production campus. Woodvale and Timber Hill partnered with Cinelease Studios for studio management and equipment rental.
• Champion Realty AdvisorscoreStrategic or Co-development Partner · 23 September 2021Joint venture partner for TH Logistics Fund I launched September 2021 with plans to acquire $150M in logistics-related supply-chain properties. Also partnered on TH Cross Border Fund I LLC for Laredo acquisitions (November 2024) and joint development of Mainfreight build-to-suit terminal in Carol Stream. Champion Realty Advisors is a Chicago-based, 100% Hispanic-owned commercial real estate brokerage company founded by J.D. Salazar in 1997.
• National Truck ParkingcoreStrategic or Co-development Partner · 1 January 2018National Truck Parking represents Timber Hill's national managed truck parking portfolio providing information and leasing opportunities. It is a joint venture company under the Timber Hill umbrella with Timber Hill as owner operator.
• Cinelease Studios-Three RingcoreStrategic or Co-development Partner · 1 January 2018Timber Hill is co-owner and co-developer of Cinelease Studios-Three Ring, a world-class purpose-built media campus in Covington, Georgia (the 'Hollywood of the South'). The 90-acre, $144 million facility will include 14 sound stages totaling 276,000 SF of stage space, 100,000 SF of office space, and 72,800 SF of flexible space when complete. Phase I opened October 2020 fully occupied by Lionsgate Films, Paramount Pictures and Skydance Media.
• ARCO Design/BuildminorImplementation/ SI/ Consulting PartnerContractor for the 21.3-acre container and trailer yard leased to Norfolk Southern in Jacksonville, FL. Worked alongside Timber Hill and Champion Realty Advisors to complete the project navigating inclement weather and wetland mitigations.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Crow Holdings Industrial: Crow Holdings is a large Dallas-based real estate investment manager with a deep industrial/logistics vertical across major U.S. distribution markets. While broader than Timber Hill's pure IOS focus, it competes for institutional capital and Sunbelt logistics assets, serving as a scaled incumbent comparable.
• Link Logistics (Blackstone): Link Logistics is the largest U.S. owner of industrial real estate, with a portfolio largely focused on modern bulk distribution warehouses. While its core is bigger-format, it has been expanding into last-mile/infill industrial adjacent to Timber Hill's sub-segments, making it a broad incumbent competing for institutional capital and tenant relationships.
• Bain Capital Real Estate: Bain Capital Real Estate invests in logistics, multifamily, and office across the U.S. Its industrial vertical includes last-mile and supply-chain real estate strategies comparable to Timber Hill's fund approach, but at materially larger scale and capital base.
• Prologis: Prologis is the global leader in logistics real estate with a $200B+ AUM platform focused on distribution and last-mile facilities. While it does not directly target IOS, it competes for the same tenant relationships (Amazon, FedEx, UPS) and is acquiring/scaling in infill logistics markets that overlap with Timber Hill's target geographies.
• EastGroup Properties: EastGroup is a publicly traded REIT focused on Class A industrial distribution and bulk warehouse facilities in Sunbelt and high-growth markets. Its geographic and asset-type overlap with Timber Hill's portfolio (Texas, Florida, Sunbelt logistics corridors) makes it a comparable competitor for tenants and capital.

Direct peers

• Stonelake Capital Partners: Stonelake is a privately held investment firm focused on industrial/logistics real estate including IOS, truck terminals, and last-mile distribution facilities across major U.S. markets. Both firms share direct parallels in fund structure, institutional investor GTM, and concentration in the Sunbelt and Midwest logistics corridors.
• Realterm: Realterm is one of the largest dedicated investors and operators of industrial outdoor storage (IOS) and transportation-focused real estate in North America, with a multi-fund platform directly comparable to Timber Hill's TH Logistics Fund I and TH Cross Border Fund I. Both firms target the same niche asset class, pursue institutional ownership in a fragmented market, and focus on infill logistics corridors.
• Fundamentals Real Estate (Industrial Outdoor Storage): Fundamentals is a Chicago-based industrial real estate firm specializing in industrial outdoor storage, truck terminals, and flex industrial assets in the Midwest. Geography overlap (Chicago) and direct asset-class overlap with Timber Hill's core focus make it a tight direct peer.
• Sitex Group: Sitex Group is the industrial real estate firm co-founded by Timber Hill CEO Cary Goldman in 2002 and where his prior 16-year track record was built. It is a direct analogue in terms of business model, asset focus (industrial/logistics IOS), and team lineage, making it the most directly comparable peer.

Emerging players

• Black Creek Group: Black Creek Group is a Denver-based real estate investment manager with a dedicated industrial/logistics vertical that includes last-mile and bulk distribution facilities. Its focus on institutional industrial logistics is comparable to Timber Hill's, though it serves a broader industrial thesis rather than IOS specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/timber-hill-group-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries5 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 Timber Hill