Stonepeak Acquires 1.1M-SF Ft. Worth Logisitics Portfolio
Stonepeak acquired two logistics assets in Fort Worth, TX totaling 1.1 million square feet from institutional investors advised by J.P. Morgan Asset Management. Financial terms were not disclosed.
The properties are located in the Alliance submarket of Dallas-Fort Worth. This area has a robust transportation infrastructure, including two Class I rail lines and the Fort Worth Alliance cargo airport, with direct access to the so-called “NAFTA highway” I-35 – a crucial trade route connecting Mexico to Canada.
Stonepeak noted that the Dallas-Fort Worth metropolitan area, with a current population of over 8 million residents, is expected to see growth at four times the national average through 2028, further underscoring the strategic importance of this acquisition.
“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,” said Phillip Solomond, senior managing director and head of Real Estate at Stonepeak.
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.
NY-based Stonepeak has approximately $71.2 billion of assets under management across real assets and infrastructure. The team invests in high conviction sectors including supply chain, residential, healthcare, and technology real estate.
Simpson Thacher & Bartlett provided legal counsel for the transaction, while Jones Lang LaSalle served as financial advisor to Stonepeak.
Pictured: Fort Worth, TX logistics assets