Stonepeak has acquired a 1.1m sqft industrial portfolio of two assets from JP Morgan Asset Management for an unspecified amount.
The investment firm has acquired the assets situated in the Alliance submarket of the Dallas-Forth Worth area in Texas on behalf of Stonepeak Real Estate Partners, the firm’s debut real estate fund.
Both assets are fully leased to a single tenant and were built in 2002.Phill Solomond, senior MD and head of real estate at Stonepeak, said: “We are excited to add these assets to our growing portfolio.
We believe high-quality real estate adjacent to transport infrastructure will continue to outperform given its mission-critical role in local and national supply chains.”
As previously reported Stonepeak is seeking to raise $1bn for its debut real estate fund, following the manager’s move into the asset class in 2021.
The new fund is expected to acquire a combination of industrial, residential, healthcare and technology-based real estate in the US.
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