WPT Industrial REIT is contributing a portfolio of 13 US distribution and logistics properties worth approximately $370 million into a newly established joint venture with the Investment Management Corporation of Ontario.
WPT will retain a majority ownership interest in the portfolio and operate and maintain them on behalf of the JV.
Few details were provided about the JV and its planned activities . IMCO has about $11.6 billion in real estate assets under management in its $70.3 billion portfolio. A recent, related investment it made was in TorQuest Partners' acquisition of VersaCold Logistics Services, one of Canada's leading cold storage warehousing and food logistics companies. TorQuest partnered with IMCO on the deal.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
