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Transactions - MARCH 15, 2021

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NorthBridge Partners recapitalizes $360m last-mile portfolio

by Kali Persall

NorthBridge Partners, a vertically integrated real estate manager, has recapitalized a $360 million last-mile industrial portfolio.

Brookfield Asset Management acquired a majority interest in the portfolio, which spans 2.3 million square feet and consists of 21 assets, located in premier last-mile locations in the Northeast and mid-Atlantic.

Following the transaction, NorthBridge will maintain an ownership interest in the portfolio and continue to manage the day-to-day operations, according to Park Madison Partners, which acted as the exclusive capital adviser for NorthBridge.

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