Goldman Sachs Alternatives and Dalfen Industrial Expand Partnership with Acquisition of 21-Building Logistics Portfolio
Goldman Sachs Alternatives and Dalfen Industrial have expanded their partnership through the acquisition of a 21-building logistics portfolio spanning 2.1 million square feet. The off-market deal includes strategic assets across Dallas, Las Vegas, Cincinnati, and Pennsylvania. The portfolio, which is 92% leased to 68 tenants including Amazon, Red Bull, and Packaging of America, was acquired below replacement cost.
The partnership between Dalfen Industrial and Goldman Sachs now encompasses 94 buildings and 19 million square feet in major U.S. markets. The acquisition aligns with their strategy to invest in assets benefiting from e-commerce growth, onshoring, and supply chain disaggregation in locations with favorable consumer and labor market dynamics.
Goldman Sachs Alternatives e Dalfen Industrial hanno ampliato la loro partnership tramite l'acquisizione di un portafoglio logistico di 21 edifici che si estende per 2,1 milioni di piedi quadrati. L'affare off-market include beni strategici a Dallas, Las Vegas, Cincinnati e Pennsylvania. Il portafoglio, che è affittato al 92% a 68 inquilini, tra cui Amazon, Red Bull e Packaging of America, è stato acquisito a un costo inferiore rispetto a quello di sostituzione.
La partnership tra Dalfen Industrial e Goldman Sachs comprende ora 94 edifici e 19 milioni di piedi quadrati nei principali mercati statunitensi. L'acquisizione è in linea con la loro strategia di investire in beni che traggono vantaggio dalla crescita dell'e-commerce, dal rilocalizzazione e dalla disaggregazione della catena di approvvigionamento in luoghi con dinamiche di mercato dei consumatori e del lavoro favorevoli.
Goldman Sachs Alternatives y Dalfen Industrial han ampliado su asociación a través de la adquisición de un portafolio logístico de 21 edificios que abarca 2.1 millones de pies cuadrados. El acuerdo fuera del mercado incluye activos estratégicos en Dallas, Las Vegas, Cincinnati y Pensilvania. El portafolio, que está arrendado al 92% a 68 inquilinos, incluidos Amazon, Red Bull y Packaging of America, fue adquirido a un costo inferior al de reemplazo.
La asociación entre Dalfen Industrial y Goldman Sachs ahora abarca 94 edificios y 19 millones de pies cuadrados en los principales mercados de EE. UU. La adquisición se alinea con su estrategia de invertir en activos que se benefician del crecimiento del comercio electrónico, la relocalización y la desagregación de la cadena de suministro en ubicaciones con dinámicas favorables de mercado de consumidores y mano de obra.
골드만 삭스 대안과 달프엔 산업이 210만 평방피트에 걸쳐 있는 21개 건물 물류 포트폴리오의 인수를 통해 파트너십을 확장했습니다. 이 비공식 거래에는 달라스, 라스베이거스, 신시내티 및 펜실베니아에 걸쳐 있는 전략적 자산이 포함됩니다. 이 포트폴리오는 아마존, 레드불, 패키징 오브 아메리카를 포함한 68명의 세입자에게 92% 임대되었으며, 대체 비용보다 낮은 가격에 인수되었습니다.
달프엔 산업과 골드만 삭스 간의 파트너십은 현재 94개 건물과 1900만 평방피트를 포함한 미국 주요 시장에서 활동하고 있습니다. 이번 인수는 전자 상거래 성장, 국내 생산 및 공급망 분리 혜택을 받는 자산에 투자한다는 전략과 일치합니다. 소비자 및 노동 시장의 유리한 역학이 있는 지역에서 진행되었습니다.
Goldman Sachs Alternatives et Dalfen Industrial ont élargi leur partenariat par l'acquisition d'un portefeuille logistique de 21 bâtiments s'étendant sur 2,1 millions de pieds carrés. L'accord hors marché comprend des actifs stratégiques à Dallas, Las Vegas, Cincinnati et en Pennsylvanie. Le portefeuille, qui est loué à 92 % à 68 locataires, dont Amazon, Red Bull et Packaging of America, a été acquis à un coût inférieur au coût de remplacement.
Le partenariat entre Dalfen Industrial et Goldman Sachs couvre désormais 94 bâtiments et 19 millions de pieds carrés sur les principaux marchés américains. L'acquisition s'inscrit dans leur stratégie d'investir dans des actifs bénéficiant de la croissance du commerce électronique, de la relocalisation et de la désagrégation de la chaîne d'approvisionnement dans des lieux présentant des dynamiques de marché favorable pour les consommateurs et le travail.
Goldman Sachs Alternatives und Dalfen Industrial haben ihre Partnerschaft durch den Erwerb eines 21-Gebäude-Logistikportfolios mit insgesamt 2,1 Millionen Quadratfuß erweitert. Das Off-Market-Geschäft umfasst strategische Immobilien in Dallas, Las Vegas, Cincinnati und Pennsylvania. Das Portfolio, das zu 92 % an 68 Mieter, darunter Amazon, Red Bull und Packaging of America, vermietet ist, wurde unter den Ersatzkosten erworben.
Die Partnerschaft zwischen Dalfen Industrial und Goldman Sachs umfasst nun 94 Gebäude und 19 Millionen Quadratfuß in wichtigen US-Märkten. Der Erwerb steht im Einklang mit ihrer Strategie, in Vermögenswerte zu investieren, die von der Wachstums des E-Commerce, der Rückverlagerung und der Desaggregation der Lieferkette profitieren und in Regionen mit günstigen Verbrauchs- und Arbeitsmarktdynamiken liegen.
- Portfolio acquired below replacement cost, indicating potential value appreciation
- High occupancy rate of 92% with diverse tenant base of 68 companies
- Strategic locations in key markets with barriers to entry
- Potential revenue growth from below-market lease renewals
- Partnership expansion to 94 buildings and 19 million square feet demonstrates strong market position
- Below-market leases indicate current suboptimal rental income
Insights
This strategic acquisition marks a substantial expansion in the Goldman Sachs-Dalfen partnership, bringing their total industrial portfolio to 94 buildings and 19 million square feet. The transaction's structure reveals several compelling value drivers:
The portfolio's characteristics align perfectly with current market dynamics:
- High-quality tenant mix including Amazon, Red Bull and Packaging of America provides stable cash flow and reduced credit risk
- 92% occupancy rate across 68 tenants offers strong diversification while maintaining upside potential
- Below-market lease rates present significant NOI growth opportunities as leases expire
- Below replacement cost acquisition provides built-in value protection and competitive advantage
The selected markets are particularly strategic. Dallas continues to benefit from population growth and business relocations, Las Vegas serves as a key distribution hub for the Western U.S., while Cincinnati and Pennsylvania provide important access to dense Northeast population centers. These locations align with the increasing demand for regional distribution networks to support next-day delivery capabilities.
The off-market nature of the transaction demonstrates the partnership's strong market position and ability to source attractive deals outside competitive bid situations. This advantage, combined with Dalfen's regional operating structure, suggests potential for superior execution in property management and leasing strategies.
For Goldman Sachs, this acquisition represents a deepening commitment to industrial real estate, particularly assets benefiting from e-commerce growth and supply chain restructuring. The focus on infill locations with high barriers to entry positions the portfolio to capture rising rents in supply-constrained markets.
The newly acquired portfolio is
"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
"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
About Real Estate at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over
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
Established in 1991, Real Estate at Goldman Sachs Alternatives is one of the leading investors in real estate with over
Media Contact: press@dalfen.com
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