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Faropoint has acquired a 1.8 million-square-foot portfolio for $328 million. Mapletree Investments sold the 30-asset shallow bay industrial collection spread across Florida, Georgia, New Jersey, Pennsylvania and Texas with the assistance of JLL.

This transaction represents Faropoint’s largest acquisition in the firm’s history. It is also Mapletree’s first U.S. large-scale warehouse divestment, CEO Richard Prokup said in a prepared statement.