Triten Real Estate Partners, a Houston-based real estate investment, development and operating firm, has closed on a strategic joint venture with Principal Asset Management, on behalf of a large U.S. public pension fund, to recapitalize a 17-property industrial outdoor storage (IOS) portfolio. The transaction marks a significant milestone for Triten, demonstrating continued institutional confidence in the firm’s ability to source, operate and create value in one of commercial real estate’s fastest-growing sectors.
Principal enters into the joint venture after acquiring TPG AG’s interest, with Triten maintaining an ownership stake and serving as the portfolio’s operating partner, overseeing leasing, asset management and execution of its broader business plan. The portfolio comprises approximately 120 acres and 340,000 square feet of improvements across strategic logistics corridors, including Atlanta; Houston; Dallas-Fort Worth; Kansas City, Mo.; and Miami. Leased to a
