Wafra Inc., a New York-based alternative investment manager, has acquired the Brownsburg Logistics Park Portfolio, a three-building industrial complex totaling 899,080 square feet in Brownsburg, Indiana. The acquisition was made by funds advised by Wafra and adds to the firm's existing holdings in the greater Indianapolis industrial market.
The portfolio was purchased from a venture between Scannell Properties, an Indianapolis-based real estate developer, and Manulife Investment Management, part of Manulife Wealth & Asset Management. The sellers completed the three buildings between 2022 and 2023, and the assets are currently leased to seven tenants representing a range of industries.
The logistics park offers direct access to Interstate 74, positioning the properties for regional distribution and fulfillment users. The buildings are also located approximately 12 miles from Indianapolis International Airport, providing proximity to air cargo infrastructure and the broader transportation network serving the Indianapolis area.
In a prepared statement, David Hamm, senior managing director and head of traditional real estate at Wafra, said the firm views the acquisition as a way to expand its regional logistics footprint as conditions in the Indianapolis industrial market continue to strengthen. Hamm noted that the Brownsburg assets represent another set of modern logistics facilities added to Wafra's existing portfolio in the area.
Wafra is described as a global alternative investment manager with approximately $30 billion in assets under management across strategic partnerships, infrastructure, and real estate strategies. The Brownsburg Logistics Park transaction underscores the firm's ongoing focus on industrial properties within its real estate platform, particularly in established logistics corridors.
The industrial portfolio's relatively recent construction, multi-tenant roster and location near both highway and airport infrastructure align it with contemporary distribution requirements. While financial details of the transaction were not disclosed, the transaction highlights continued investor appetite for modern industrial product in and around Indianapolis.
Separately, Connect Industrial West is scheduled for August 20 in Irvine, California. The event is expected to convene industrial real estate owners, investors, developers, brokers, lenders, and occupiers from across the Western United States for discussions on market conditions, deal activity, and networking opportunities. Additional information and registration are available through the conference's website.
