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Stonemont Expands Holdings with Acquisition of High-Quality 38-Building Industrial Property Portfolio

businesswire.com
JPM JPMorgan Chase & Co. provided debt financing for a significant real estate transaction, indicating their involvement in the financial aspects of the deal but not directly commenting on the company's performance. WFC Wells Fargo & Company provided debt financing for a significant real estate transaction, indicating their involvement in the financial aspects of the deal but not directly commenting on the company's performance.

Stonemont Expands Holdings with Acquisition of High-Quality 38-Building Industrial Property Portfolio ATLANTA--( BUSINESS WIRE)--Stonemont, an Atlanta-based private real estate investment firm focused on developing, acquiring, and managing assets in high-growth markets across the country, today announced that it has acquired a 38-building portfolio of attractive industrial assets (the “Transaction”). Stonemont’s industrial platform completed the approximately $1 billion Transaction with its long-term capital partner, PCCP.

The newly acquired portfolio, which is 95% leased, encompasses 5.9 million square feet in high-growth markets including Austin, Central Florida, Charlotte, Dallas and Phoenix. These assets complement Stonemont’s existing industrial portfolio as well as its growing development pipeline, which currently includes over 15 million square feet across more than 1,150 acres.

“This Transaction is a natural step for our firm and reflects our conviction in the long-term fundamentals of the industrial real estate sector,” said Zack Markwell, CEO and Managing Principal at Stonemont. “Our vertically integrated platform and experience operating and developing industrial properties position us to enhance the performance of these assets. We are pleased to have partnered with PCCP in this Transaction, which we believe will allow us to deliver meaningful value for our firm’s investors. Going forward, we will continue to pursue attractive acquisition opportunities alongside our active development program.”

“We carefully curated this portfolio by emphasizing properties that sit at the intersection of population growth, cross-border trade activity and tenant demand,” said Bryan Blasingame, President, Chief Investment Officer and Principal at Stonemont. “These assets, which consist of bulk and light industrial properties, come with a stable, long-term tenant base, and we are excited about their potential.”

The Transaction was financed through debt provided by JP Morgan and Wells Fargo, with Eastdil Secured advising on the debt execution.

About Stonemont

Stonemont is a privately held real estate investment and development firm managing diversified strategies on behalf of institutional and private capital partners across multiple asset classes. With its vertically integrated platform, the firm focuses on developing, acquiring, and managing assets in high-growth markets across the country to deliver attractive risk-adjusted returns. Founded in 2007 and based in Atlanta, Stonemont has $5.3 billion in assets under management and has deployed $8 billion since inception. For more information on Stonemont, visit its website and LinkedIn.