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The basics:

• Faropoint acquires 1.8M-square-foot industrial portfolio from Mapletree
• 30-building portfolio spans N.J., Fla., Ga., Pa. and Texas
• Deal coincides with launch of $1B Faropoint Industrial Value Fund IV

Tech-enabled industrial real estate investment manager Faropoint paid $328 million to acquire an industrial portfolio from Mapletree Investments Pte Ltd. covering five states and 1.8 million square feet.

The Singapore-based group announced the deal June 30. According to the global real estate development, investment, capital and property management company, the transaction marks its first major U.S. warehouse divestment, and a milestone for the buyer.

The acquisition is Hoboken-based Faropoint’s largest since its 2012 founding, Mapletree said.

The portfolio comprises 30 shallow-bay warehouse buildings located across New Jersey, Florida, Georgia, Pennsylvania and Texas. Of that total, the Garden State boasts five properties totaling 270,517 square feet, Mapletree said.

JLL Senior Managing Directors John Huguenard and Trent Agnew represented the seller; Mapletree did not disclose representation for Faropoint.

“This portfolio is a strategic addition to our platform and reinforces Faropoint’s conviction in the long-term fundamentals of infill industrial real estate,” said Ohad Porat, chief investment officer at Faropoint. “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,” added Faropoint Senior Vice President Yannai Gordon. He described the portfolio as “defined by high-quality assets in competitive logistics markets.”

Faropoint focus

The news also coincides with Faropoint’s launch of its flagship Industrial Value Fund IV, targeting $1 billion in capital commitments.

In a June 25 announcement, the company said the fund and its sidecar secured a combined $225 million in seed commitments from the Teacher Retirement System of Texas.

Fund IV’s predecessor, Fund III, raised $916 million including $29 million in co-investments. The company also noted that precursor surpassed its $750 million target. Faropoint said Fund III is now mostly deployed across 200 properties representing $1.8 billion in gross asset value.

Fund IV aims to assemble approximately 200 to 250 assets. With suite sizes of primarily between 20,000 square feet to 40,000 square feet, targeted property sizes range from 20,000 square feet to 100,000 square feet.

According to the company, the initial close for Fund IV occurred in June 2025. Faropoint says it is currently pursuing acquisition and development opportunities. The fund will invest across gateway, primary and secondary U.S. markets.

Since its inception, Faropoint has acquired more than 500 warehouses totaling more than $3.5 billion in assets across 16 key U.S. markets. It boasts seven regional offices.

Mapletree’s moves

Closed-end private fund Mapletree US & EU Logistics Private Trust held the divested assets. 

Launched in 2019, Mapletree said the pan-American and pan-European portfolio totaled $4.3 billion in assets under management. Portfolio assets included properties well-connected to transportation nodes as well as those benefiting from robust demand, such as e-commerce, third-party logistics and consumer products. Mapletree said this divestment represents the first phase of exit for MUSEL investors.

Mapletree owns and manages over 70 million square feet of industrial assets across the U.S. As of March 31, the company said the United States accounted for approximately one-quarter of its total AUM.

“Mapletree remains bullish on the long-term potential of the U.S. industrial market,” commented Richard Prokup, CEO, U.S., Mapletree. “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.”

Editor’s note: This story was updated at 10:40 a.m. ET on July 3, 2025, to correct the sales price from $318 million to $328 million.