Bridge, Townsend form global gateway institutional logistics venture

Bridge, Townsend form global gateway institutional logistics venture

Bridge Investment Group and The Townsend Group have signed a definitive agreement forming a joint venture with options to deploy as much as $400 million of equity to acquire, develop, and operate global gateway institutional logistics assets within the United States.

“Bridge’s partnership with Townsend represents a significant milestone as we launch our value-add logistics strategy,” commented Jay Cornforth, Chief Executive Officer and Co-Chief Investment Officer for Bridge’s 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,” he added.

“Bridge is a skilled operating partner and well positioned to execute on this gateway, infill logistics market strategy. 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,” said Scott Miller, Partner, Townsend Group.