Brookfield Sells IOS Portfolio for $277M

Brookfield Properties has sold an industrial outdoor storage portfolio totaling 631,604 square feet for more than $277 million.

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Realterm acquired the 13 properties located in seven key logistics markets in the U.S. such as the Inland Empire, Chicago, Seattle, Northern New Jersey, the Bay Area and Orlando, Fla. According to CommercialEdge, Realterm owns 250 industrial properties totaling 21.8 million square feet, including a recently acquired IOS facility in Roseville, Minn.

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The 97 percent occupied portfolio that Brookfield sold now totals 131 acres and includes mostly single-tenant truck terminals, low-coverage assets or IOS maintenance facilities. The seller operated the assets under its Brookfield Asset Management real estate fund, after having acquired them between 2017 and 2022 as part of its strategy to purchase properties with growth potential in key industrial metros.

In the latest deal, Eastdil Secured Director Nick Murphy and Managing Director Brian Budnick worked on behalf of the seller.

The sale ended an active year for Brookfield Properties. The company entered the Canadian market with a 1.1 million-square-foot acquisition, and had a total deal volume in 2024 of $3.4 billion in North America alone. Today, Brookfield owns and operates a $26 billion worth industrial portfolio that spans 182 million square feet across five continents. Additionally, the company’s logistics development pipeline exceeds 90 million square feet.

Strong transaction activity

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Multiple notable transactions closed last year in the IOS sector. Alterra IOS purchased a seven-property portfolio in a deal that closed in November. The 23-acre portfolio was fully leased and included properties in seven markets.

The joint venture between Dalfen Industrial and Centerbridge Partners also continued to expand its footprint in this sector. The companies picked up two East Coast properties in August, in two high barrier to entry metros. In May, the same partnership purchased five properties on the West Coast, in a deal valued at $26 million.

Triten Real Estate Partners and TPG Angelo Gordon also announced plans to expand their presence in the sector. The venture intends to acquire more than $1 billion in additional IOS properties over the upcoming five years.