NEW YORK, NY – September 5, 2024 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the acquisition of two logistics assets totaling 1.1 million square feet in Fort Worth, Texas from institutional investors advised by J.P. Morgan Asset Management.
The assets are strategically located in the Alliance submarket of Dallas-Fort Worth (“DFW”), which is anchored by two Class I rail lines, the BNSF Alliance intermodal terminal, and the Fort Worth Alliance cargo airport, all of which have direct access to the I-35 “NAFTA highway” linking Mexico to Canada. The Alliance submarket’s transport infrastructure is supported by DFW’s population of over 8 million residents, which is expected to grow by 4x the national average through 2028.
“We are excited to add these assets to our growing portfolio,” said Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak. “We believe that high-quality real estate adjacent to transport infrastructure will continue to outperform given its mission-critical role in local and national supply chains.”
Most recently, in April 2024, Stonepeak acquired a 1.7 million square foot logistics portfolio located adjacent to the BNSF and Union Pacific intermodal terminals in Chicago, Illinois. Prior to that, in October 2023, Stonepeak announced the sale of the Omni Industrial Campus, a 1.3 million square foot logistics portfolio located near the Port of Charleston in South Carolina.
Stonepeak’s real estate team invests thematically in real estate assets that demonstrate infrastructure characteristics. The team invests in high conviction sectors including supply chain, residential, healthcare, and technology real estate. With the benefit of the strength and insights of the broader Stonepeak platform, the team targets opportunities supported by strong macro tailwinds that have durable cash flow profiles, embedded demand drivers, high barriers to entry, inflation protection, and are mission critical to the businesses and communities they serve.
Simpson Thacher & Bartlett LLP served as legal counsel and Jones Lang LaSalle served as financial advisor to Stonepeak.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $71.2 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.
Contacts
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (212) 907-5100
