Invesco Real Estate has acquired a minority stake in US infill industrial investment manager Faropoint for an unspecified amount.
Faropoint, which invests in 15 markets across the East Coast, Midwest, Southwest and Texas, has acquired more than 400 warehouses and 20m sqft of last-mile industrial properties in high-growth markets since 2018.
Bert Crouch, head of North America at Invesco Real Estate, said: “This investment strengthens our commitment to optimising our execution across highly fragmented markets such as infill industrial real estate by leveraging technology to efficiently identify and accurately underwrite investment opportunities nationally.
“As a part of our broader strategic initiative to vertically integrate operating platforms across our highest conviction sectors, we believe this investment into Faropoint will allow us to capitalise on secular tailwinds affecting this compelling sub-sector.”
Adir Levitas, CEO and founder of Faropoint, said: “We are excited for this strategic partnership with Invesco Real Estate, whose breadth of experience and global reach can help us grow our business and amplify our impact.”
Ohad Porat, Faropoint’s CIO, said: “The partnership with Invesco Real Estate is a very natural one, as we’ve been working closely together and trading insights for some time. We look forward to this exciting collaboration.”
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