TPG-Led Group Buys $628M Industrial Portfolio With Georgia Assets
A TPG-led consortium acquired a 53-building, 5.4 million-square-foot industrial portfolio for $628 million, with Atlanta Property Group taking 1.8 million square feet in Georgia and North Carolina.
A consortium led by TPG AG has acquired a $628 million industrial portfolio spanning 53 buildings and 5.4 million square feet across seven states: Florida, Georgia, North Carolina, Tennessee, Minnesota, Illinois, and Oregon. Roughly 75% of the assets are concentrated in the Southeast. Atlanta Property Group's portion totals approximately 1.8 million square feet in Georgia and North Carolina.
The portfolio consists primarily of shallow bay industrial assets in high-barrier-to-entry markets. It was 87% occupied at acquisition with a broad tenant base. TPG AG plans value creation through active asset management and targeted capital investment.
Three operating partners will manage the assets regionally: Redfearn Capital (Tampa, Lakeland, Memphis), Atlanta Property Group (Atlanta, Raleigh-Durham, Charlotte), and Matterhorn Venture Partners (Chicago).
Eastdil Secured advised on the debt financing. Greenberg Traurig, LLP served as legal advisor to the consortium.
- Address
- Southeast portfolio, significant Georgia holdings
- Sq ft
- 5,400,000
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