Stonepeak Buys DFW Logistics Portfolio
Invesco Real Estate sold the assets, according to Yardi Research Data.
Stonepeak has expanded its Texas footprint with the acquisition of two logistics assets totaling 748,000 square feet in Fort Worth, Texas. Invesco Real Estate previously owned the facilities, according to Yardi Research Data.
The properties are at 1005 and 1006 Railhead Drive within the 27,000-acre AllianceTexas master-planned campus. The mixed-use complex is anchored by two Class I railroad lines, the BNSF Alliance intermodal terminal and the Fort Worth Alliance cargo airport. They all have direct access to Interstate 35, linking Mexico to Canada.
READ ALSO: Industrial Report: Vacancy Climbs, Development Holds and Pricing Adjusts
Simpson Thacher & Bartlett LLP served as legal counsel and Eastdil Secured served as financial advisor to the buyer.
Stonepeak focuses on transport infrastructure in key submarkets such as Dallas-Fort Worth, Houston, Chicago and Jacksonville, Fla. In addition to supply chain and logistics assets, the firm also invests in residential, health-care and technology real estate.
Two AllianceTexas properties
Completed in 1997 on a 56-acre site, the two logistics facilities measure 235,000 square feet and 511,327 square feet, respectively, the same source shows. The Class A properties feature ESFR sprinklers and HVAC systems, as well as a total of 105 dock-high doors and two grade-level doors.
The portfolio is roughly 8 miles from two logistics assets totaling 1.1 million square feet, also part of AllianceTexas, that Stonepeak acquired last September. The firm purchased Alliance Gateway 61 and Alliance Gateway 53 from institutional investors advised by J.P. Morgan Asset Management.
Previous logistics deals
Stonepeak has acquired 7.7 million square feet of logistics assets anchored by transport infrastructure since April 2024.
In December, the firm added to its Texas holdings with the $244 million acquisition of a 2.3 million-square-foot logistics portfolio in metro Houston. The region has an extensive rail network anchored by Union Pacific, BNSF and CPKC. The seller was Starwood Capital Group, according to Yardi Research Data.
A month earlier, Stonepeak purchased a 1.8 million-square-foot portfolio near the Port of Jacksonville, which is expanding its critical infrastructure over the next five years with investments of more than $1 billion. That portfolio is also near the CSX, Norfolk Southern and the Florida East Coast Railway.
In April 2024, Stonepeak acquired a three-building, 1.7 million-square-foot logistics portfolio at CenterPoint Intermodal Center-Joliet/Elwood from CenterPoint Properties. The properties are adjacent to Chicago’s BNSF and Union Pacific intermodal terminals.
You must be logged in to post a comment.