BGO Industrial Real Estate Income Trust (BGO IREIT), a newly created BentallGreenOak-managed perpetual-life trust, has acquired a 34.2% stake in a $948m (€900m) portfolio in the US as its seed portfolio.

BGO IREIT said it has paid $130m for the indirect ownership interest in the portfolio of Midwestern industrial assets.

The portfolio, developed between 2012 and 2023, consists of 29 separate industrial buildings totaling over 9.4m sqft located in Cincinnati, Kansas City, St. Louis and Kenosha, Wisconsin.

Michael Glimcher, president, CEO and director of BGO IREIT, said the seed portfolio highlighted the trust’s portfolio construction strategy of “aggregating modern industrial warehouse and logistics assets that connect global supply chains to consumers”.

BGO IREIT seeks to invest in stabilised, income-oriented industrial warehouse and logistics properties located primarily in the US.

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