Stonepeak has acquired six logistics assets encompassing 2.3m sqft of space in Houston, Texas.
IPE Real Assets understands that the alternative investment fund manager paid $244m.
The logistics facilities are strategically located less than eight miles from Port Houston, the fifth-largest container port in the US.
Phill Solomond, senior managing director and head of real estate at Stonepeak, said: “We are thrilled to add these high-quality assets to our port logistics platform, which has grown rapidly over the past year. We continue to believe in the power of supply-chain real estate anchored by essential port infrastructure, given its mission-critical role in local and national supply chains, and we are excited to continue investing behind this theme.”
So far in 2024 Stonepeak has acquired 20 logistics assets totaling 7m sqft. Most recently, Stonepeak acquired a 1.8m sqft logistics portfolio located near the Port of Jacksonville, Florida. Earlier this year, Stonepeak acquired a 1.1m sqft logistics portfolio located in the Alliance submarket of Dallas-Fort Worth, Texas and a 1.7m sqft logistics portfolio located next to the BNSF and Union Pacific intermodal terminals in Chicago, Illinois
To read the latest IPE Real Assets magazine click here.
