Brookfield Asset Management has successfully acquired a 14.6 million-square-foot industrial portfolio from funds managed by DRA Advisors, valuing the transaction at $1.3 billion through its private real estate fund. The portfolio consists of infill light industrial assets in high-growth U.S. markets, primarily in the Sunbelt and Midwest regions, with an impressive occupancy rate of 96%. This acquisition aligns with Brookfield’s strong belief in the long-term fundamentals of logistics and their commitment to purchasing mission critical locations for tenants.
According to Andy Smith, head of North American investments for logistics at Brookfield, this transaction is a strategic opportunity to capitalize on favorable supply/demand dynamics in top markets where they have existing operating experience. Eastdil Secured facilitated the deal and attractive debt terms were obtained via the CMBS market back in June.
Leveraging their expertise as a logistics operator, Brookfield plans to vertically integrate this newly acquired portfolio within its national team and network of regional offices while also implementing targeted capital improvements aimed at enhancing sustainability, safety and efficiency.
With over 425 properties globally and a development pipeline totaling 90 million square feet across various countries including Canada Europe Brazil Australia Korea China Middle East , this latest acquisition further solidifies Brookfield’s position as an industry leader within global logistics operations.
