Stonepeak acquired a three asset, 1.7-million-square-foot rail-served logistics portfolio in Chicago from CenterPoint Properties.
The portfolio is located at the largest inland port in North America, anchored by the BNSF and Union Pacific Class I rail intermodal terminals. All six Class I railroads converge in Chicago, with 25% of U.S. freight trains and half of all intermodal trains passing through. Due to its central location, Chicago is a strategic transportation hub with a one-day delivery window to nearly 55 million U.S. households.
This investment represents a continuation of the team’s focus on supply chain real estate anchored by essential inland and coastal port infrastructure. Most recently, in October 2023, Stonepeak sold the Omni Industrial Campus, a 1.3 million square foot logistics portfolio strategically located near the Port of Charleston in South Carolina.
Stonepeak’s real estate team invests thematically in real estate assets that demonstrate infrastructure characteristics. The team draws on its deep experience from prior leadership positions within top investment firms to invest behind high conviction sectors including supply chain, residential, healthcare, and technology real estate. With the benefit of the strength and insights of the broader Stonepeak platform, the team targets opportunities supported by strong macro tailwinds that have durable cash flow profiles, embedded demand drivers, high barriers to entry, inflation protection, and are mission critical to the businesses and communities they serve.
Simpson Thacher & Bartlett LLP served as legal counsel and Eastdil Secured served as financial advisor to Stonepeak.
