Rockpoint Group and BEB Capital form $1b industrial-focused JV
The joint venture will target an investment pipeline of up to $1 billion of industrial assets in the Northeastern United States, with a primary focus in Long Island, N.Y. The partnership has assembled nearly 660,000 square feet of industrial assets to date, including the recent Long Island acquisitions of 44 Ramsey Road in Shirley and 100 Marcus Boulevard in Hauppauge.
The joint venture aims to acquire a diverse industrial portfolio in close proximity to strategic corridors and infrastructure assets. The portfolio thus far consists of nearly 100 percent leased industrial assets with a diversified tenant roster of credit and regional logistics, distribution and warehousing, and ecommerce tenants.
“The U.S. industrial and last-mile logistics sector continues to be red hot, and with the growth of ecommerce accelerating during the pandemic, we expect there to be continued strong demand in this asset class,” said Lee J. Brodsky, CEO of BEB Capital. “Together with Rock