Faropoint Purchases 1.7M SF, 16-building Industrial Portfolio in Jacksonville, Memphis for $105M ($61.76psf)

8/29/2024

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REBusinessOnline

• Subcategory: Industrial: Distribution, Industrial: Flex, Industrial: Logistics, Industrial: Warehouse

• Tag: Sale

• Additional Filters-Subcategory: Capital Markets: Fund-Opportunistic, Capital Markets: Fund-Value Added

• Additional Filters-Tags: Sale: Investment, Sale: Portfolio

• Company: Brookfield Properties

Faropoint has purchased a 16-building industrial portfolio in two Southeast markets: Jacksonville and Memphis. The Hoboken, N.J.-based firm acquired the 1.7 million-square-foot portfolio from New York-based Brookfield Asset Management for $105 million. Eastdil Secured brokered the off-market transaction.