SALT LAKE CITY, UT – Bridge Investment Group Holdings Inc. and the Townsend Group have formed a joint-venture partnership, with plans to deploy up to $400 million of equity to acquire, develop and operate global gateway institutional logistics assets within the U.S.
"Bridge's partnership with Townsend represents a significant milestone as we launch our value-add logistics strategy," says Jay Cornforth, CEO and co-chief investment officer for Bridge Investment Group Holdings' logistics properties vertical. "We are excited to work together with Townsend to address the opportunities created by the significant demand growth and the structural infill supply limitations in key logistics markets."
Since 2015, the Townsend Group has invested $7.9 billion in logistics in markets globally.
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"Bridge is a skilled operating partner and well-positioned to execute on this gateway, infill logistics market strategy," says Scott Miller, partner at the Townsend Group. "The strategic approach to developing a portfolio and hands-on nature of co-chief investment officers Jay Cornforth and Brian Gagne distinguishes their presence and access in the market."
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