Bridge Investment Group and the Townsend Group Announce Second Global Gateway Insitutional Logistics Venture

SALT LAKE CITY--(BUSINESS WIRE)--Bridge Logistics Value Fund II GP LLC, an affiliate of Bridge Investment Group Holdings Inc. (NYSE: BRDG), and The Townsend Group (“Townsend”) announced today a definitive agreement forming a joint venture to deploy $147 million of equity, with the option for upsizing to $200 million, to acquire, develop, and operate global gateway logistics assets in the United States. This partnership follows the successful first joint venture announced in December 2021, in which the team committed $335 million of equity in similar assets.

“Bridge Investment Group’s continued partnership with Townsend represents another milestone in expanding the progression of our value-add logistics strategy,” commented Jay Cornforth, Chief Executive Officer of Bridge Logistics Properties (“BLP”). “We are excited to partner with Townsend to capitalize on new opportunities created by the current environment and to leverage our experience and longstanding relationships to access potential investments. Our focus on gateway, infill markets is positioned to benefit from long-standing secular trends which are driving exponential demand growth along with structural infill supply limitations.”

Townsend has invested $11.2 billion in logistics in developed and developing markets globally since 2015. “BLP is a highly experienced operating partner and well positioned to execute its disciplined investment strategy focused on gateway, infill logistics markets. The tenured and cycle-tested team, led by Jay Cornforth, and Brian Gagne, Chief Investment Officer, has a strategic approach to portfolio construction and deep regional footprint which enhances their presence and access in the market,” said Scott Miller, Partner, The Townsend Group.

About Bridge Investment Group

Bridge Investment Group is a leading, alternative investment manager, diversified across specialized asset classes, with approximately $48.8 billion of assets under management as of March 31, 2023. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. verticals across real estate, credit, renewable energy and secondaries strategies.

BLP is the majority-owned subsidiary of Bridge Investment Group that manages the joint venture described above and the other vehicles in Bridge Investment Group’s value-add logistics strategy.

About The Townsend Group

The Townsend Group is an investor in real estate and real assets managing $23.9 billion (USD) in global AUM. Townsend invests through client investor consortiums consisting of sponsored fund products and complementary separate accounts. Townsend works with global investors and operating partners as a strategic, investment and capital solutions provider. Additionally, Townsend advocates for investors representing nearly $119.2 billion (USD) in private and public real assets globally.

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