Brookfield Asset Management, through its private real estate fund, has acquired a 14.6 million square foot industrial portfolio from funds managed by DRA Advisors.
The portfolio of infill light industrial assets is 96 percent occupied and caters to hundreds
of national, regional, and local businesses across 20 high-growth U.S. markets.
“We strongly believe in the long-term fundamentals in the logistics space and are excited about the opportunity to purchase this portfolio of light industrial assets that represent mission critical locations for the tenants. Given the increased financing and construction costs over the last several years, particularly in the light industrial space, we believe this transaction represents the opportunity to capitalize on strong supply/demand fundamentals for assets in top markets where Brookfield has existing operating experience,” said Andy Smith, head of North American investments for logistics.
Brookfield was able to o
