Atlanta, GA-based MDH Partners has closed the $1.26-billion sale of its Sunbelt Logistics Portfolio to a global institutional investor. MDH Partners will retain a stake in the portfolio and operate the warehouses on behalf of the new owner.
Eastdil Secured marketed the portfolio on behalf of MDH Partners.
The 58-property institutional-quality logistics industrial portfolio totals 9.7 million square feet in AZ, FL, GA, KY, MO, NC, SC, TN, TX and VA. The portfolio was assembled through individual deals since 2019 with MDH Partners’ Fund I, a $350-million discretionary fund from university endowments and foundations.
The Sunbelt Logistics Portfolio is 97% occupied by more than 100 regional, national and international tenants with an average remaining lease term of 5.7 years.
The portfolio includes nearly 675,000 square feet of newly constructed buildings in Nashville and Charlotte that were constructed with CarbonCure, a technology for the concrete industry that introduces recycled CO₂ into fresh concrete to reduce its carbon footprint. In total, these two projects will save 560,000 pounds of embodied carbon and is the equivalent of 311 acres of forested land annually, even though the properties are only 71 acres.