Ares acquires one million-square-foot Houston logistics portfolio
United States, Dec. 19 -- JLL Capital Markets announced the sale of the NxNW Houston Class A Logistics Portfolio, a three-property industrial portfolio totaling 1,020,722 square feet of premier logistics space strategically positioned across Houston's North and Northwest submarkets.JLL represented the seller in the transaction. An Ares Real Estate fund ("Ares") acquired the asset. Marq Logistics, which represents Ares' vertically integrated global logistics real estate platform and is a leader in the development and operation of modern logistics facilities, will manage the portfolio.The portfolio comprises six recently constructed industrial buildings with an average vintage of 2016 and is currently 95% leased to 10 tenants. The three prope...
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