Stonemont Financial Group has established a $1 billion joint venture with an affiliate of Cerberus Capital Management. The partnership is focused on building a large-scale portfolio of logistics and outdoor storage industrial real estate across the United States.
The joint venture targets a broad range of acquisition opportunities across the United States, with a particular focus on truck terminals; truck and trailer parking and R&M facilities; outdoor storage facilities; and other assets that support last-mile distribution centers and warehouses. To date, the joint venture has acquired assets in Illinois, Florida, Mississippi and Tennessee. The facilities act as ‘mission-critical’ freight distribution transfer points for the storage and flow of goods to final destinations.
“As ecommerce activity continues to gain market share, there is no question that industrial service facilities will likely become one of the most sought-after asset classes in the country
