BTG Pactual Strategic Capital, Grupo Patio and Morning Calm Management have launched Aurora Industrial, a platform company targeting acquisitions of $1 billion-plus of U.S. Midwest industrial real estate over the next three years.

Aurora has closed on its first transaction, a 10-asset portfolio, comprising 1.7 million square feet in Detroit. Aurora is targeting further investments in a focus region that spans most major Midwest MSAs.

Chris Blundin, managing partner, and Grupo Patio director in the United States, said, “We are very optimistic about the great opportunities that this region offers us, and we are sure that, with our experience in investments and asset management, we will be able to have a solid position in the United States.”