Stonepeak acquires major rail-served logistics portfolio in Chicago

Stonepeak, a prominent alternative investment firm focusing on infrastructure and real assets, has successfully acquired a significant logistics portfolio in Chicago, Illinois, from CenterPoint Properties. This strategic acquisition comprises three assets totaling 1.7 million square feet, situated at North America’s largest inland port, significantly enhancing Stonepeak’s supply chain real estate holdings.

The newly acquired portfolio is advantageously located adjacent to the BNSF and Union Pacific Class I rail intermodal terminals, making it a pivotal node in the U.S. transportation network. Chicago’s status as a major rail convergence point—with all six Class I railroads and a significant portion of the nation’s freight and intermodal traffic passing through—affirms its role as a critical supply chain hub. The city’s central location allows for one-day delivery to nearly 55 million U.S. households, underlining the strategic importance of this acquisition.

Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak, highlighted the transaction’s significance, stating, “This transaction demonstrates the power of the Stonepeak platform to invest in supply chain real estate with durable infrastructure characteristics. The portfolio is directly adjacent to critical rail infrastructure and is a strong addition to our broader real estate strategy. We look forward to expanding our portfolio as a trusted buyer who provides speed and certainty of execution.”

This acquisition is part of Stonepeak’s ongoing strategy to invest in high-value real estate assets with strong infrastructure characteristics. The firm’s real estate team focuses on sectors with high barriers to entry, inflation protection, and essential roles in supply chain, residential, healthcare, and technology. These investments are chosen for their strong macro tailwinds, durable cash flow profiles, and critical importance to the businesses and communities they serve.

Most recently, Stonepeak executed a notable transaction in October 2023 with the sale of the Omni Industrial Campus, a 1.3 million square foot logistics portfolio near the Port of Charleston in South Carolina, further emphasizing their active role in strategic real estate investment.

For this transaction, Stonepeak was advised by Simpson Thacher & Bartlett LLP for legal counsel and Eastdil Secured for financial advisement, ensuring a smooth acquisition process and strategic alignment with ongoing investment objectives.

Stonepeak’s latest acquisition in Chicago is a testament to their strategic vision in the infrastructure investment space, focusing on high-demand, critical real estate assets. This move not only strengthens their portfolio but also positions Stonepeak as a key player in optimizing supply chain efficiency across significant U.S. markets.