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TPG AG and Redfearn Capital buy industrial portfolio for $628M
The 53-building portfolio totals 5.4 million square feet and is about 87% occupied, spanning seven states.
TPG AG U.S. Real Estate and Redfearn Capital have acquired a 5.4 million-square-foot industrial portfolio for $628 million, Commercial Observer reported.
The deal involves seller DRA Advisors, and BDT & MSD Partners provided a $479 million loan, according to the outlet.
The portfolio includes 53 buildings that are roughly 87% occupied, with logistics and manufacturing properties spread across Florida, Georgia, North Carolina, Tennessee, Minnesota, Illinois and Oregon.
TPG AG said it plans to add value through capital investment, and noted it is working with operating partners Atlanta Property Group and Matterhorn Venture Partners, which will co-manage the portfolio in their respective markets.