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.
