Brookfield Acquires Sun Belt Industrial Portfolio From Stonelake Capital
The 53 properties went for $428 million
By Mark Hallum July 14, 2025 11:17 am
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Brookfield Asset Management is expanding its industrial portfolio in the Sun Belt by about 3.6 million square feet, the company announced.
The $428 million portfolio acquisition from Stonelake Capital covers 53 properties, mainly in the Dallas, Houston, Atlanta and Nashville markets. The purchase of the properties puts a total of 75 million square feet of logistics space under Brookfield’s control, according to the firm.
The buildings are 96 percent leased, with Brookfield saying it sees solid momentum in the industrial market in the years to come.
“Given the increased market uncertainty and rising replacement costs over the last several years, particularly in the light industrial space, we believe this transaction represents the opportunity to capitalize on strong supply/demand fundamentals for assets in irreplaceable locations in top markets where Brookfield has experience within our existing operating portfolio,” Andy Smith, head of North American investments for logistics at Brookfield, said in a statement.
It’s unclear if Stonelake sees the market with the same optimism, given that it has offloaded 91 industrial buildings across 7.6 million square feet in the last six months alone, according to a separate announcement from the seller.
The 13 deals brought $920 million in liquidity to Stonelake. The company appears to be completing an investment strategy that began in 2014, with the acquisition of 367 industrial buildings totaling 31.3 million square feet, mostly over the last seven years.
“The recent transactions represent the culmination of seven years of hard work by the entire Stonelake team. Stonelake assembled and created this portfolio through 49 separate acquisitions between 2018 and 2022,” Kenneth Aboussie, managing partner of Stonelake, said in a statement. “Stonelake will continue to execute on our investment strategy of both acquiring and developing light industrial warehouses to create portfolios of institutional size and quality in infill locations in markets experiencing significant population growth.”
Mark Hallum can be reached at mhallum@commercialobserver.com.
