Deeds have been recorded for seven of the nine properties that New York City-based Stonepeak announced Nov. 4 that it bought in Jacksonville.
Stonepeak, which calls itself a leading alternative investment firm specializing in infrastructure and real assets, said the nine assets total 1.8 million square feet.
Stonepeak did not identify the assets, the seller or the amount it paid.
The seven properties identified through deeds were sold by LLCs that are in care of Link Logistics Real Estate LLC of Fort Washington, Pennsylvania.
The seven deeds total $130.22 million and show a total square footage of 1.241 million, according to Duval County Property Appraiser records.
The properties are in North and Northwest Jacksonville and were built between 1972 and 2001.
For the first seven, here is the sale price, address, acreage, size and year built:
• $39.442 million at 2855 Faye Road, 27.53 acres, 364,560 square feet, one story, built in 2001. Last sold Nov. 10, 2017, for $24.38 million.
• $26.262 million at 10301 Busch Drive, 13.78 acres, 220,548 square feet, one story, built in 1996. Last sold Jan. 17, 2017, for $8.836 million.
• $15.922 million at 10490 Busch Drive North, 7.82 acres, 168,380 square feet, one story, built in 1976. Last sold Jan. 17, 2017, for $6.976 million.
• $13.492 million at 227 Gun Club Road, 6.32 acres, 131,887 square feet, one story, built in 1972. Last sold Jan. 12, 2017, for $6.352 million.
• $13.012 million at 560 Zoo Parkway, 4.88 acres, 130,960 square feet, one story, built in 1978, and adjacent vacant 1.48 acres. Last sold Jan. 17, 2017, for $5 million.
• $11.792 million at 5301 W. Fifth St., 6.217 acres, 120,200 square feet, one story, built in 1973. Last sold for $3.744 million in 2006.
• $10.412 million at 5540 Broadway Ave., 6.89 acres, 104,565 square feet, one story, built in 1974. Last sold for $3.456 on July 19, 2006.
State corporate records show that Stonepeak formed LLCs to acquire the properties.
The Prudential Insurance Co. of America issued a $120 million mortgage to one of the LLCs, SP Jacksonville Faye Road LLC, but the mortgage document was not posted as of Nov. 11.
That document might provide the real estate numbers for all of the assets being financed.
The mortgage and deeds were executed Nov. 1.
Link Logistics was established by Blackstone in 2019.
Stonepeak says it has about $70 billion of assets under management.
“We believe that high-quality real estate adjacent to transport infrastructure will continue to outperform given its mission-critical role in local and national supply chains,” said Phill Solomond, Stonepeak senior managing director and head of real estate, in the Nov. 4 release.
Simpson Thacher & Bartlett LLP served as legal counsel and Jones Lang LaSalle served as financial adviser to Stonepeak.
The release said the assets are near JaxPort, which is investing more than $1 billion over the next five years to improve access and use.
It said Jacksonville’s transportation infrastructure is further supported by a rail network anchored by CSX, Norfolk Southern and Florida East Coast Railway.
The release said Stonepeak recently acquired a 1.1 million-square-foot logistics portfolio in the Alliance submarket of Dallas-Fort Worth, Texas.
Earlier this year, Stonepeak bought a 1.7 million square foot logistics portfolio adjacent to the BNSF and Union Pacific intermodal terminals in Chicago.