Following its 2024 acquisition of a light industrial portfolio from DRA Advisors for $1.3 billion, Brookfield has acquired a 3.6-million-square-foot industrial portfolio for $428 million from Stonelake Capital Partners. Spanning high-growth Sunbelt markets including Dallas, Houston, Atlanta and Nashville, the portfolio’s 53 properties are 96% leased.
The portfolio is comprised of infill light industrial assets, a sector where Brookfield maintains a bullish long-term outlook driven by favorable supply-demand dynamics. The company intends to vertically integrate the portfolio within its national logistics platform and plans targeted upgrades.
Andy Smith, head of North American investments for Logistics for Brookfield Asset Management, said, “Given the increased market uncertainty and rising replacement costs over the past several years, particularly in the light industrial space, we believe this transaction represents the opportunity to capitalize on strong supply/demand fundamentals for assets in irreplaceable locations in top markets where Brookfield has experience within our existing operating portfolio.”
Pictured: 8401 John Carpenter Freeway in Dallas, one of 53 properties Brookfield acquired from Stonelake.
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