Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has acquired a three asset, 1.7 million square foot rail-served logistics portfolio in Chicago, Illinois 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 transaction demonstrates the power of the Stonepeak platform to invest in supply chain real estate with durable infrastructure characteristics,” said Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak. “The portfolio is directly adjacent to critical rail infrastructure and is a strong addition to our broader real estate strategy. We look forward to expanding our portfolio as a trusted buyer who provides speed and certainty of execution.”
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.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $65.1 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney.
