Key Takeaways
- • Stonepeak, an alternative investment firm specializing in infrastructure and real assets with approximately $93 billion of assets under management, announced the acquisition of an 860,100 square foot rail-served logistics asset in Fort Worth, Texas.
- • The asset sits in the Alliance submarket of Dallas-Fort Worth, anchored by two Class I rail lines, the BNSF Alliance intermodal terminal, and the Fort Worth Alliance cargo airport, with direct access to the I-35 corridor.
- • The acquisition reflects Stonepeak's real estate team strategy of investing thematically in real estate with infrastructure characteristics, including supply chain assets.
- • Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak, framed the deal as part of a supply chain strategy running from producer to consumer.
Summary
The company cited the region's demographic growth as a supporting factor for transport infrastructure demand. DFW's population of roughly 9 million is expected to grow at three times the national average through 2031, according to the release.
Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak, said: "Stonepeak invests in the supply chain from producer to consumer. Real estate anchored by transportation infrastructure is a critical link in the supply chain." The release states that Stonepeak's real estate team invests thematically in assets with infrastructure characteristics, focusing on supply chain, residential, healthcare, and technology real estate. The team targets assets with durable cash flows, embedded demand drivers, high barriers to entry, inflation protection, and mission-critical roles for the businesses and communities they serve.
Simpson Thacher & Bartlett LLP acted as legal counsel and Newmark as financial advisor to Stonepeak. The release did not disclose the purchase price or the seller.
Stonepeak, headquartered in New York with offices across North America, Europe, and Asia-Pacific, targets digital infrastructure, energy and energy transition, transport and logistics, and real estate, and manages its investments through private equity and credit vehicles.
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