Goldman Sachs Alternatives and Dalfen Industrial Expand Partnership with Acquisition of 21-Building Logistics Portfolio
DALLAS, Jan. 30, 2025 /PRNewswire/ -- Goldman Sachs Alternatives and Dalfen Industrial, a leader in last-mile industrial real estate, have announced the acquisition of a 21-building, 2.1-million-square-foot portfolio of infill logistics properties. The deal was acquired off-market and adds strategic assets across Dallas, Las Vegas, Cincinnati, and Pennsylvania to their growing portfolio.
The newly acquired portfolio is 92% leased to 68 tenants, including prominent names such as Amazon, Red Bull, and Packaging Corporation of America.
"Our success in executing on a multi-market transaction is attributable to our regional structure and deep market knowledge," said Mike Cohen, Head of Acquisitions at Dalfen Industrial. "Our local presence helps our teams deliver strong operating performance resulting in meaningful portfolio value creation."
Sean Dalfen, President & CEO of Dalfen Industrial, emphasized the value-driven nature of the transaction:
"Dalfen Industrial is excited about adding exceptional assets in strong submarkets with substantial barriers to entry. The portfolio features a diversified rent roll across modern, well-located buildings in markets we know intimately. Acquired at well below replacement cost, we see significant potential to enhance value through strategic improvements and capturing upside as below-market leases roll over."
With this acquisition, the partnership between Dalfen Industrial and Goldman Sachs now totals 94 buildings and 19 million square feet in major U.S. markets, further solidifying their position as a market leader in industrial real estate.
"This acquisition fits our strategy to invest in assets that benefit from thematic trends such as the growth of e-commerce, onshoring and supply chain disaggregation in locations with favorable consumer and labor market dynamics. We are excited to continue to grow exposure to logistics assets in these markets," said Chance Monroe, Managing Director in Real Estate at Goldman Sachs Alternatives.
About Dalfen Industrial
Headquartered in Dallas, Texas, Dalfen Industrial LLC is a premier name in last-mile industrial real estate and one of the largest privately held industrial real estate firms in the United States. The company specializes in strategically located infill warehouses and distribution centers, with a portfolio exceeding 50 million square feet.
About Real Estate at Goldman Sachs Alternatives
Goldman Sachs (NYSE:GS) is one of the leading investors in alternatives globally, with over $500 billion in alternative assets and more than 35 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has $3.1 trillion in assets under supervision globally as of September 30, 2024.
Established in 1991, Real Estate at Goldman Sachs Alternatives is one of the leading investors in real estate with over $60 billion in capital invested since 2012 across the spectrum of investment strategies from core to opportunistic and credit. The global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity.
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SOURCE Dalfen Industrial