Stonemont Financial Group and Cerberus Capital Management have formed a joint venture focused on building a portfolio of industrial service facility assets. No financial terms were disclosed. To date, the joint venture has acquired assets in Illinois, Florida, Mississippi and Tennessee.
ATLANTA – Stonemont Financial Group (“Stonemont”), a leading industrial developer and real estate investor, announced today that it established a joint venture with an affiliate of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing. The partnership is focused on building a large-scale portfolio of logistics and outdoor storage industrial real estate across the United States.
Stonemont is a leading investor in industrial real estate in the United States, with over 15 million square feet under management. Cerberus Real Estate has a long track record investing across asset classes, property types, and geographies, and has deployed approximately $29 billion of equity in more than 575 transactions around the world.
The joint venture leverages the firms’ combined capabilities and targets to build a billion-dollar portfolio of industrial service facility assets, which play a key role in the logistics supply chain. The facilities act as ‘mission-critical’ freight distribution transfer points for the storage and flow of goods to final destinations. The joint venture targets a broad range of acquisition opportunities across the United States, with a particular focus on truck terminals; truck and trailer parking and R&M facilities; outdoor storage facilities; and other assets that support last-mile distribution centers and warehouses. To date, the joint venture has acquired assets in Illinois, Florida, Mississippi, and Tennessee.
“As e-commerce activity continues to gain market share, there is no question that industrial service facilities will likely become one of the most sought-after asset classes in the country,” said Zack Markwell, Managing Principal and CEO at Stonemont Financial Group. “This joint venture is a unique opportunity to combine our market knowledge with Cerberus’ global expertise to build a national portfolio of mission-critical industrial real estate.”
Tom Wagner, Head of North American Real Estate at Cerberus, commented, “Industrial service facilities are key infrastructure assets in the logistics supply chain and have become increasingly important with the acceleration of e-commerce. Through our partnership with Stonemont, we will be able to meet the strong demand of companies by providing a leading, institutional portfolio of quality assets strategically located across the United States.”
Based in Atlanta, GA, Stonemont Financial Group is a real estate investment firm focused on the development, acquisition, and management of industrial real estate properties throughout the United States. Currently, the company has over 15 million square feet under management and the leadership team has more than 60 years of combined real estate expertise and has conducted more than $20+ billion in total transactions at the national and international levels. Stonemont seeks to combine the experience and resources of a large institution with the creativity and flexibility of an entrepreneurial firm.
For more information on Stonemont and its initiatives, visit us at www.stonemontfinancial.com
Founded in 1992, Cerberus is a global leader in alternative investing with over $50 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.