Industrial developer and investor Stonemont Financial Group has partnered with an affiliate of Cerberus Capital Management to build a large-scale portfolio of logistics and outdoor storage industrial real estate across the US.
The joint venture aims to build a billion-dollar portfolio of industrial service facilities that will act as 'mission-critical' freight distribution transfer points for the storage and flow of goods to final destinations.
While the JV will target a broad range of acquisition opportunities across the US, it will focus on truck terminals, truck and trailer parking and R&M facilities, outdoor storage facilities and other assets that support last-mile distribution centers and warehouses. So far, it has acquired assets in Illinois, Florida, Mississippi and Tennessee.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
