Accelerate Infrastructure Opportunities Raises $780 Million — $630 Million from CBRE Investment Management and $150 Million from Separate Inaugural Asset-Backed Securitization
Proceeds to Support Growth of Accelerate's Leading Real Estate Under Critical Infrastructure Acquisition Strategy
Accelerate Infrastructure Opportunities (Accelerate) today announced a $780 million capital raise comprised of a $630 million equity commitment from funds and co-investors managed by CBRE Investment Management (CBRE IM) and a $150 million inaugural asset-backed securitization.
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Accelerate invests in real estate under digital, renewable, and transportation infrastructure that powers a connected, sustainable, and on-time economy. (Photo: Business Wire)
Accelerate acquires and manages real estate under critical infrastructure in digital, renewable and transportation sectors and aggregates these assets into a managed portfolio that generates long-term, sustainable cash flow.
Equity Investment Upsizing
CBRE IM, on behalf of its funds and co-investors, has increased its existing investment in Accelerate to a total capital commitment of $630 million. The capital raise will further support the growth of Accelerate's diverse infrastructure site portfolio.
"We are grateful to CBRE IM and its partners for their investments that allow us to continue to execute and scale our leading infrastructure real estate strategy," said Brennan Potts, founder and CEO of Accelerate. "All our investors recognize the significant need for investment in infrastructure real estate to support the build out of a connected and sustainable economy. Accelerate is here to help meet that need."
Accelerate and CBRE IM joined forces to launch the infrastructure site acquisition strategy in December of 2022. Since that time, Accelerate has acquired interests in more than 200 properties in 38 states under digital, renewable, and transportation infrastructure assets.
"Combining Accelerate's high-performing, value-based team with the expertise and breadth of the CBRE platform has allowed Accelerate to quickly win market share across multiple infrastructure sectors and cement its leadership position," said Rob Shaw, Managing Director at CBRE IM. "Accelerate's proven track record, creative structuring and long-term partnership focus positions Accelerate to be the partner of choice to help landowners, brokers and infrastructure companies realize the full value of the land underneath critical infrastructure assets."
Inaugural Securitization
Accelerate issued a $150 million asset-backed securitization on a diversified portfolio of properties under critical infrastructure assets, making the securitization the first of its kind. The issuance was oversubscribed and included support from several investors. Morningstar DBRS provided an investment-grade rating A (low) for Accelerate's securitized notes.
"We are proud of the quality of our inaugural ABS issuance, which signals a strong endorsement of our strategy and the value and stability of our high-quality, diversified portfolio," said Brandon O'Gara, president and CFO of Accelerate. "We believe that establishing Accelerate in the ABS market opens the door to future financing opportunities and allows Accelerate to provide a competitive cost of capital to our customers."
Accelerate engaged TD Bank as the sole structuring agent and joint book runner, Cantor Fitzgerald as joint book runner and Katten Muchin Rosenman LLP as legal counsel for the asset-backed securitization. Legal counsel for the underwriter was provided by King & Spalding LLP.
About Accelerate Infrastructure Opportunities
Accelerate Infrastructure Opportunities acquires, owns, and manages real estate under critical infrastructure sites that generate long-term, sustainable cash flow. Since launching its infrastructure strategy in 2022, Accelerate Infrastructure Opportunities has acquired more than 200 sites across 38 states. With offices near Dallas, New York, and Los Angeles, Accelerate helps businesses, developers, operators, and property owners unlock value and land opportunities™. Visit www.we-are-accelerate.com or follow us on LinkedIn to learn more.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $148.3 billion in assets under management* as of September 30, 2024, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world's largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE's data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management's presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.
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