AXA Investment Managers – Real Assets has taken a significant step in its strategy to grow a U.S.-wide logistics platform, having completed, on behalf of clients, the acquisition of a 7.98 million-square-feet portfolio for $875 million.
The portfolio has been acquired through a share purchase of a REIT previously managed by Cabot Properties, an international private equity real estate investment firm. Cabot will retain a minority stake in the REIT and will remain as day-to-day manager of the portfolio.
The portfolio comprises 27 high-quality modern assets spread across eight of the key logistics markets in the United States, including Chicago, Houston, Los Angeles, Central New Jersey, Dallas, South Florida, Southern New Jersey and Atlanta. Together these local markets account for 45 percent of the total logistics supply in the United States. All the assets are strategically positioned within major national and international transportation hubs that are mission
