Stonepeak has sold a 1.3m sqft logistics portfolio in the Southeastern US for an undisclosed amount.
The real assets manager said it has completed the sale of Omni Industrial Campus, a three-building logistics portfolio in Charleston, South Carolina.
Omni Industrial Campus is located along Interstate 26 between Interstate 95 and the Port of Charleston, which is expected to double in capacity by 2033 as a result of continued share-shift from West Coast ports to East Coast ports, population growth, and the expansion of manufacturing in the greater Charleston area.
The buyer鈥檚 details were undisclosed.
Phill Solomond, senior MD and head of real estate at Stonepeak, said the transaction demonstrates Stonepeak鈥檚 ability to identify and 鈥渆xecute investments at the intersection of real estate and infrastructure鈥�.
Solomond added: 鈥淲e leveraged insights from our leading infrastructure platform to build conviction around this submarket, which has seen strong logistics growth as a direct result of the expanding Port of Charleston.鈥�
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