Stonepeak Acquires 2.3M-SF Houston Logistics Portfolio
Stonepeak has acquired six logistics assets totaling 2.3 million square feet in Houston, TX. The assets are strategically located less than eight miles from Port Houston and near a rail network anchored by Union Pacific, BNSF, and CPKC.
The transaction represents a continuation of the firm’s focus on supply chain real estate anchored by critical transport infrastructure. To date, New York-based Stonepeak has acquired 20 logistics assets totaling seven million square feet across multiple markets, including Jacksonville, Fort Worth and Chicago.
“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,” said Phill Solomond, senior managing director and head of real wstate at Stonepeak.
The $70 billion-managing real assets-focused Stonepeak recently acquired a 1.8 million square foot logistics portfolio near the Port of Jacksonville, FL. Earlier this year, the firm acquired a 1.1 million square foot logistics portfolio in the Alliance submarket of Dallas-Fort Worth and a 1.7 million square foot logistics portfolio next to the BNSF and Union Pacific intermodal terminals in Chicago.
Simpson Thacher & Bartlett LLP served as legal counsel and Jones Lang LaSalle served as financial advisor to Stonepeak.
