{"id":1004711066,"date":"2024-04-19T03:08:15","date_gmt":"2024-04-19T11:08:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004711066"},"modified":"2024-04-19T04:00:10","modified_gmt":"2024-04-19T12:00:10","slug":"stonepeak-wraps-125m-portfolio-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/","title":{"rendered":"Stonepeak Wraps $125M Portfolio Acquisition"},"content":{"rendered":"\n

Stonepeak, a New York-based alternative investment firm, has acquired a three-building, 1.7 million-square-foot rail-served logistics portfolio in the Chicago market from CenterPoint Properties.<\/p>\n\n\n

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\"Stonepeak
Stonepeak has acquired a three-building portfolio in Elwood, Ill., at the largest inland port in North America. Image courtesy of Stonepeak<\/em><\/figcaption><\/figure><\/div>\n\n\n

The sale price for the fully leased portfolio was $125 million, according to IPE Real Assets<\/em>.<\/p>\n\n\n\n

The properties are located in Elwood, Ill., at 26318-26634 S. Walton Drive, 21561 Mississippi Ave. and 26634 Mississippi Ave.<\/p>\n\n\n\n

The portfolio is situated in the CenterPoint Intermodal Center\u2013Joliet\/Elwood, the largest inland port in North America<\/a>. It is anchored by BNSF and Union Pacific Class I rail intermodal terminals. The 6,400-acre intermodal port and industrial park is adjacent to Interstate 55 and about 40 miles southwest of Chicago.<\/p>\n\n\n\n

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READ ALSO<\/strong>: Getting in the Heads of Industrial Tenants<\/a><\/p>\n\n\n\n

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All six Class I railroads converge in Chicago, with 25 percent of U.S. freight trains and half of all intermodal trains passing through. The Midwest Chicago market is a strategic transportation hub with a one-day delivery window to nearly 55 million households in the U.S.<\/p>\n\n\n\n

Infrastructure, supply chain focus<\/h2>\n\n\n\n

Stonepeak specializes in infrastructure and real assets with approximately $65.1 billion of assets under management. The Chicago market portfolio investment represents the team\u2019s continued focus on supply chain real estate anchored by essential inland and coastal port infrastructure. <\/p>\n\n\n\n

In October, Stonepeak sold the Omni Industrial Campus<\/a>, a 1.3 million-square-foot logistics portfolio located in Summerville, S.C., near the Port of Charleston to Rockpoint. Stonepeak made its initial investment in the 100-acre campus in December 2021.<\/p>\n\n\n\n

The team targets mission-critical opportunities supported by strong macro tailwinds that have durable cash flow profiles, embedded demand drivers, high barriers to entry and inflation protection. Stonepeak sponsors investment vehicles focused on private equity and credit, while providing capital, operational support and partnership in its target sectors. The firm is also seeking to raise about $1 billion for its first real estate fund, which will focus on acquisitions in U.S. industrial, residential, health-care and technology-based real estate, according to IPE Real Assets<\/em>. As of August, Stonepeak was halfway to its goal, the publication reported.<\/p>\n\n\n\n

In April 2022, Stonepeak closed an equity recapitalization<\/a> of hyperscale provider Cologix, valued at $3 billion. The transaction was structured as a sale by Stonepeak Infrastructure Fund II LP and co-investors to Stonepeak-managed vehicles.<\/p>\n","protected":false},"excerpt":{"rendered":"

Situated in the Chicago area, the assets expand the company\u2019s footprint by 1.7 million square feet. <\/p>\n","protected":false},"author":1068,"featured_media":1004711104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21808,21748,21783,13,21742],"tags":[36217,52386],"class_list":["post-1004711066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-featured","category-industrial","category-investment","category-midwest","category-latest","tag-centerpoint-properties","tag-stonepeak"],"acf":[],"yoast_head":"\nStonepeak Wraps $125M Portfolio Acquisition - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Stonepeak has acquired a three-building, rail-served logistics portfolio in the Chicago market from CenterPoint Properties.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stonepeak Wraps $125M Portfolio Acquisition\" \/>\n<meta property=\"og:description\" content=\"Stonepeak has acquired a three-building, rail-served logistics portfolio in the Chicago market from CenterPoint Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-19T11:08:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-19T12:00:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Stonepeak-has-acquired-a-three-building-portfolio-in-Elwood-Ill.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"801\" \/>\n\t<meta property=\"og:image:height\" content=\"610\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/\",\"name\":\"Stonepeak Wraps $125M Portfolio Acquisition - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Stonepeak-has-acquired-a-three-building-portfolio-in-Elwood-Ill.jpg\",\"datePublished\":\"2024-04-19T11:08:15+00:00\",\"dateModified\":\"2024-04-19T12:00:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"Stonepeak has acquired a three-building, rail-served logistics portfolio in the Chicago market from CenterPoint Properties.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Stonepeak-has-acquired-a-three-building-portfolio-in-Elwood-Ill.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Stonepeak-has-acquired-a-three-building-portfolio-in-Elwood-Ill.jpg\",\"width\":801,\"height\":610,\"caption\":\"Stonepeak has acquired a three-building portfolio in Elwood, Ill., at the largest inland port in North America. 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