Mapletree Investments Pte Ltd announced on Monday the trade of a 1.8 million-square-foot industrial portfolio to Faropoint, a tech-enabled industrial real estate investment manager, for $328 million.
This deal marks the Mapletree’s first major U.S. warehouse divestment and Faropoint’s largest acquisition since the firm’s founding in 2012.
“Mapletree remains bullish on the long-term potential of the U.S. industrial market,” Richard Prokup, chief executive officer, U.S., Mapletree, said. “This transaction represents our first large-scale warehouse divestment in the U.S. — a milestone that unlocks capital for reinvestment in new opportunities that align with our conviction in this sector.”
“We are pleased to have successfully closed this transaction with Faropoint. This achievement is a testament to the collaboration and hard work of all parties involved,” added Richard.
The portfolio comprises 30 shallow-bay warehouse buildings located across Florida, Georgia, New Jersey, Pennsylvania and Texas. John E. Huguenard and Trent Agnew of JLL represented Mapletree in the transaction.
“This portfolio is a strategic addition to our platform and reinforces Faropoint’s conviction in the long-term fundamentals of infill industrial real estate,” Ohad Porat, chief investment officer at Faropoint said. “It advances the scale and discipline we apply to our investment strategy as we continue growing across key U.S. logistics corridors.”
“This transaction demonstrates our ability to execute complex, multi-market acquisitions with speed and precision,” Yannai Gordon, senior vice president at Faropoint said. “It was a pleasure working with Mapletree — an institutional and highly professional counterparty — on a portfolio defined by high-quality assets in competitive logistics markets.”
The divested assets were held under Mapletree US & EU Logistics Private Trust (MUSEL), a closed-end private fund launched in 2019 with a diversified pan-American and pan-European portfolio totaling $4.3 billion in assets under management. The portfolio comprised 262 strategically located assets, well-connected to transportation nodes and benefiting from robust demand across sectors including e-commerce, third-party logistics and consumer products. This divestment represents the successful first phase of exit for investors of MUSEL.
Faropoint’s acquisition comes as the firm continues its expansion, having recently launched Industrial Value Fund IV with a $1 billion target after closing Fund III at $916 million in 2024, including co-investments, above its $750 million target. The Mapletree portfolio represents one of Faropoint’s largest transactions aligned with its strategy of leveraging its proprietary acquisition platform, FarOS, and mark-to-market AI technology, REXy, to optimize portfolio construction of urban logistics properties in high-density, supply constrained markets.
