CHICAGO—Investors completed several mammoth portfolio buys in the US industrial market last year, pouring billions into the robust sector and setting records. This year has been quieter when it comes to major portfolio investments, but that time may be ending. As reported in GlobeSt.com, GLP agreed this week to acquire a $1.1-billion US logistics portfolio from Hillwood Development Co. LLC.
“I believe there will be more transactions such as this as the year continues, given the appetite for industrial assets,” Erik Foster, Avison Young principal and practice leader for its national industrial capital markets group, tells GlobeSt.com. But eclipsing the amount that traded hands last year will be difficult.
In a partnership with GIC, the sovereign wealth fund of Singapore, GLP led the way last year with its $8.1-billion acquisition of the Blackstone Group's IndCor portfolio. Also in 2015, GLP paid $4.6 billion to acquire 200 facilities from Industrial Income Trust, while in another large-scale portfolio deal in '15, Prologis bought KTR Capital Partners for $5.9 billion.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
