Adir Levitas Of Faropoint Acquires Industrial Portfolio From Richard Prokup Of Mapletree Investments For $328M

Faropoint has acquired a shallow bay industrial portfolio consisting of 30 assets, totaling 1.8 million square feet located across Florida, Georgia, New Jersey, Pennsylvania, and Texas. The transaction was completed for $328 million, achieving a price per square foot of $182.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $328,000,000
• Buyer: Adir Levitas - Faropoint
• Seller: Richard Prokup - Mapletree Investments
• Brokers: John Huguenard & Trent Agnew - JLL
• Total Square Footage: 1,800,000
• Price per Square Foot: $182
• Market: Florida, Georgia, New Jersey, Pennsylvania & Texas

This deal marks Faropoint's largest acquisition to date, while it signifies the first major U.S. warehouse divestment for Mapletree Investments as part of a broader exit strategy driven by their advisors at JLL.