Brookfield Properties has bought an industrial outside storage portfolio totaling 631,604 sq. toes for greater than $277 million.
Realterm acquired the 13 properties positioned in seven key logistics markets within the U.S. such because the Inland Empire, Chicago, Seattle, Northern New Jersey, the Bay Space and Orlando, Fla. In keeping with CommercialEdge, Realterm owns 250 industrial properties totaling 21.8 million sq. toes, together with a not too long ago acquired IOS facility in Roseville, Minn.
The 97 % occupied portfolio that Brookfield bought now totals 131 acres and contains largely single-tenant truck terminals, low-coverage property or IOS upkeep services. The vendor operated the property beneath its Brookfield Asset Administration actual property fund, after having acquired them between 2017 and 2022 as a part of its technique to buy properties with development potential in key industrial metros.
Within the newest deal, Eastdil Secured Director Nick Murphy and Managing Director Brian Budnick labored on behalf of the vendor.
The sale ended an lively yr for Brookfield Properties. The corporate entered the Canadian market with a 1.1 million-square-foot acquisition, and had a complete deal quantity in 2024 of $3.4 billion in North America alone. Right this moment, Brookfield owns and operates a $26 billion price industrial portfolio that spans 182 million sq. toes throughout 5 continents. Moreover, the corporate’s logistics growth pipeline exceeds 90 million sq. toes.
Robust transaction exercise
A number of notable transactions closed final yr within the IOS sector. Alterra IOS bought a seven-property portfolio in a deal that closed in November. The 23-acre portfolio was absolutely leased and included properties in seven markets.
The three way partnership between Dalfen Industrial and Centerbridge Companions additionally continued to develop its footprint on this sector. The businesses picked up two East Coast properties in August, in two excessive barrier to entry metros. In Might, the identical partnership bought 5 properties on the West Coast, in a deal valued at $26 million.
Triten Actual Property Companions and TPG Angelo Gordon additionally introduced plans to develop their presence within the sector. The enterprise intends to accumulate greater than $1 billion in further IOS properties over the upcoming 5 years.
