{"id":1004741584,"date":"2024-12-20T04:49:34","date_gmt":"2024-12-20T12:49:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004741584"},"modified":"2024-12-20T07:01:49","modified_gmt":"2024-12-20T15:01:49","slug":"stonepeak-pays-244m-for-logistics-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stonepeak-pays-244m-for-logistics-portfolio\/","title":{"rendered":"Stonepeak Pays $244M for Logistics Portfolio"},"content":{"rendered":"\n<p>Stonepeak, a New York-based alternative investment firm, has expanded its Texas footprint again this year with the acquisition of a six-property, 2.3 million-square-foot logistics portfolio in metro Houston. Starwood Capital Group was the seller, according to CommercialEdge data.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Stonepeak_Houston-Portfolio.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"801\" height=\"600\" data-attachment-id=\"1004741592\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/stonepeak-pays-244m-for-logistics-portfolio\/stonepeak_houston-portfolio\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Stonepeak_Houston-Portfolio.jpg\" data-orig-size=\"801,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1722844581&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Stonepeak_Houston Portfolio\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Port of Houston portfolio in La Porte, Texas. Image courtesy of Stonepeak&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Stonepeak_Houston-Portfolio.jpg?w=801\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Stonepeak_Houston-Portfolio.jpg\" alt=\"Port of Houston portfolio in La Porte, Texas\" class=\"wp-image-1004741592\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Stonepeak_Houston-Portfolio.jpg 801w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Stonepeak_Houston-Portfolio.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Stonepeak_Houston-Portfolio.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 801px) 100vw, 801px\" \/><\/a><figcaption class=\"wp-element-caption\">Port of Houston portfolio in La Porte, Texas. <em>Image courtesy of Stonepeak<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The sale price for the La Porte, Texas, portfolio situated less than 8 miles from the Port of Houston was $244 million, as reported by <em>IPE Real Assets.<\/em><\/p>\n\n\n\n<p>The properties are located at: 359 Old Underwood Road; 359 Pike Court; 10100 Porter Road; 10052 Porter Road; 10051 Porter Road and 10025 Porter Road.<\/p>\n\n\n\n<p>Stonepeak continues to invest in supply chain real estate anchored by essential port infrastructure because of its mission-critical role in local and national supply chains, according to a company statement.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-markets-for-cold-storage-development\/\">Top 10 Markets for Cold Storage Development<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The Port of Houston is the fifth-largest container port in the U.S. Over the next five years, the port plans to invest $1.7 billion to modernize and expand. The region also has an extensive rail network anchored by Union Pacific, BNSF and CPKC.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-growing-logistics-portfolio\">Growing logistics portfolio<\/h2>\n\n\n\n<p>To date in 2024, Stonepeak has acquired 20 logistics assets totaling 7 million square feet including another Texas portfolio. The firm acquired two logistics assets providing a combined 1.1 million square feet in Fort Worth, Texas, in September from institutional investors advised by J.P. Morgan Asset Management. The company used a $57 million loan from PGIM Real Estate for the purchase. The <a href=\"https:\/\/www.commercialsearch.com\/news\/stonepeak-buys-1-msf-logistics-portfolio\/\">assets are in the Alliance submarket of Dallas-Fort Worth<\/a>, anchored by two rail lines, the BNSF Alliance intermodal terminal and the Fort Worth Alliance cargo airport.<\/p>\n\n\n\n<p>Last month, Stonepeak purchased a <a href=\"https:\/\/www.commercialsearch.com\/news\/stonepeak-buys-1-8-msf-logistics-portfolio\/\">1.8 million-square-foot logistics portfolio<\/a> with nine properties located near the Port of Jacksonville. The Florida port is also improving and expanding its critical infrastructure with a five-year investment of more than $1 billion. The portfolio is also near the CSX, Norfolk Southern and the Florida East Coast Railway, which are key railroad infrastructure support systems for the port\u2019s traffic.<\/p>\n\n\n\n<p>In April, Stonepeak acquired a three-building, 1.7 million-square-foot rail-served fully leased logistics portfolio at CenterPoint Intermodal Center-Joliet\/Elwood\u2014the <a href=\"https:\/\/www.commercialsearch.com\/news\/stonepeak-wraps-125m-portfolio-acquisition\/\">largest inland port in North America<\/a>\u2014from CenterPoint Properties. The properties are adjacent to Chicago\u2019s BNSF and Union Pacific intermodal terminals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The properties are situated near a top five container port.<\/p>\n","protected":false},"author":1068,"featured_media":1004741592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,1589,21748,21783,21742,51973],"tags":[34880,52386],"class_list":["post-1004741584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-houston","category-industrial","category-investment","category-latest","category-southwest","tag-starwood-capital-group","tag-stonepeak"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stonepeak Pays $244M for Logistics Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Stonepeak has expanded its Texas footprint with the acquisition of a six-property, 2.3 million-square-foot logistics portfolio in Houston.\" \/>\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-pays-244m-for-logistics-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stonepeak Pays $244M for Logistics Portfolio\" \/>\n<meta property=\"og:description\" content=\"Stonepeak has expanded its Texas footprint with the acquisition of a six-property, 2.3 million-square-foot logistics portfolio in Houston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/stonepeak-pays-244m-for-logistics-portfolio\/\" \/>\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=\"2024-12-20T12:49:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-20T15:01:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Stonepeak_Houston-Portfolio.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"801\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\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-pays-244m-for-logistics-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/stonepeak-pays-244m-for-logistics-portfolio\/\",\"name\":\"Stonepeak Pays $244M for Logistics Portfolio - 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