Stonepeak Expands Logistics Footprint in Jacksonville with New Acquisition
Deal News | Nov 04, 2024 | Stonepeak
Stonepeak, a renowned alternative investment firm, announced the acquisition of nine logistics properties in Jacksonville, Florida, covering a total of 1.8 million square feet. These assets, strategically positioned near Jacksonville's port and supported by a robust rail network, are expected to harness favorable demographic trends in a rapidly growing urban area. This acquisition aligns with Stonepeak’s strategy to invest in real estate that exhibits infrastructure-like traits. Stonepeak's recent transactions also include substantial acquisitions in Dallas-Fort Worth and Chicago. Providing legal and financial advising support were Simpson Thacher & Bartlett LLP and Jones Lang LaSalle, respectively. Stonepeak continues to target sectors with strong macroeconomic drivers and high barriers to entry to deliver resilient cash flows and inflation protection.
Sectors
- Logistics and Infrastructure
- Real Estate
- Investments
Geography
- United States – The logistics portfolio acquired is located in Jacksonville, Florida, USA, adding to Stonepeak's US investment strategy alongside previous transactions in Texas and Illinois.
- Jacksonville, Florida – The specific locale of the new logistics assets is Jacksonville, a city benefiting from strategic transport infrastructure improvements and demographic growth.
Industry
- Logistics and Infrastructure – The logistics portfolio acquisition by Stonepeak underscores their focus on infrastructure assets crucial to supply chains, especially those connected to major transport hubs like Jacksonville's port.
- Real Estate – Stonepeak's investment targets real estate assets demonstrating infrastructure characteristics, confirming their thematic focus on sectors like supply chains, which this transaction exemplifies.
- Investments – Stonepeak's activities are aligned with alternative investment strategies, focusing on infrastructure and real assets to meet demands for defensive, value-creating investments.
Financials
- $70 billion – The total assets under management by Stonepeak.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stonepeak | Buyer | Company | An alternative investment firm specializing in infrastructure and real assets, with approximately $70 billion in assets under management. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Provided legal counsel to Stonepeak for the acquisition of the logistics portfolio. |
| Jones Lang LaSalle | Financial Advisor | Company | Served as financial advisor to Stonepeak in this transaction. |
| Port of Jacksonville | Geographical Feature | Other | The logistics assets are strategically located near the Port, which is undergoing significant infrastructural investments. |