Faropoint Secures $105 Million Off-Market Acquisition of 16-Building Portfolio in Jacksonville, FL and Memphis, TN

Faropoint, a leading tech-driven US industrial real estate investment manager, has announced the off-market acquisition of a 16-building portfolio spanning Jacksonville, FL, and Memphis, TN. This substantial acquisition, totaling 1.7 million square feet, was completed for $105 million and brokered by Eastdil Secured. The transaction was finalized in under 45 days.

“We appreciate Eastdil and Brookfield for facilitating this acquisition,” said Yannai Gordon, Senior Vice President. “Our team’s efficiency in conducting due diligence on 16 buildings and 45 suites, and closing the deal in under 45 days, highlights our capability to execute complex transactions swiftly.”

This multi-market acquisition includes four properties in Jacksonville and twelve in Memphis, reflecting Faropoint’s strategy of targeting off-market deals. The portfolio features strategically located industrial assets that align with Faropoint’s long-term objective of acquiring high-demand properties in key US markets. The transaction underscores the firm’s proficiency in managing intricate multi-market acquisitions with efficiency.

Faropoint’s strategy focuses on sourcing functional industrial properties in high-demand submarkets, and the assets in Jacksonville and Memphis meet these criteria with their solid build quality, strategic locations, and operational advantages. The proximity of these assets offers potential for value creation through targeted improvements and proactive leasing.

Ohad Porat, Chief Investment Officer, stated, “This acquisition demonstrates Faropoint’s capability to leverage unique opportunities that align with our strategic vision. By securing well-located assets in Jacksonville and Memphis, we enhance our portfolio’s diversity and position ourselves to capitalize on emerging trends in industrial real estate. Our approach is designed to deliver both immediate and long-term value to our investors.”

Faropoint’s successful acquisition of this off-market portfolio through its collaboration with Eastdil Secured and Brookfield illustrates the firm’s adeptness in managing transactions of varying scales—from smaller deals to large, multi-market portfolios. This acquisition further expands Faropoint’s footprint in key logistics hubs across the US.

For additional information, please contact Ori Regev, VP Capital Development, at [email protected].

About Faropoint

Faropoint is a tech-enabled, vertically integrated real estate investment manager specializing in urban logistics within the US industrial sector. With approximately 120 employees, Faropoint uses data and market expertise to address inefficiencies in the industrial real estate market. The firm operates in 16 major US markets, acquiring off-market deals through its extensive broker network and local presence. Since its inception in 2012, Faropoint has acquired over 400 warehouses and manages more than $2.5 billion in assets, including uncalled commitments. For more information, visit Faropoint.com.

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