Goldman Sachs Merchant Banking Division and Dalfen Industrial have partnered to acquire 10 last mile properties that are located in Denver, West Palm Beach, Charlotte, San Antonio, and Fort Worth. With this purchase, the partnership has acquired 8 million square feet of infill industrial acquisitions.

Goldman Sachs has steadily increased its exposure to industrial last-mile facilities, in response to rising e-commerce activity during the pandemic. The firm has made several significant investments in industrial assets this year. In August, Goldman Sachs Vintage Funds made a strategic investment in a portfolio of last-mile logistics that was part of an investment vehicle owned by Elion Partners.

In July, Goldman Sachs Merchant Banking Division acquired an ownership stake in a 46-asset last mile industrial portfolio owned by Dalfen Industrial valued at $500 million. The portfolio serves e-commerce tenants in such metro areas as Atlanta, Dallas, Chicago, Orlando, Phoenix, Raleigh, Houston, Tampa, Baltimore, Minneapolis, Cincinnati, Columbus, Reno and Jacksonville. The portfolio was 94% occupied at the time of purchase.