Goldman Bets on Warehouses With Virus Spurring Online Shopping
- Bank strikes deal with Dalfen on 46 ‘last-mile’ properties
- Warehouses are ‘beneficiary of the Covid crisis,’ Dalfen says
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Goldman Sachs Group Inc.’s merchant banking division has struck a deal to invest in warehouses across the U.S. in a bet that e-commerce will accelerate and drive demand for logistics facilities.
The bank is partnering with Dallas-based Dalfen Industrial on a group of 46 “last-mile” industrial facilities, according to a statement Wednesday. The properties -- in metro areas including Atlanta, Chicago, Phoenix, Houston and Cincinnati -- are valued at about $500 million, according to a person with knowledge of the matter who asked not to be identified discussing the deal terms.