B
ridge Industrial has secured a $789 million cash infusion to assemble portfolios in supply-constrained markets. The Chicago-based firm, led by founder and CEO Steve Poulos, is partnering with the Canada Pension Plan Investment Board (CPP Investments) for this venture. CPP Investments holds a 95% stake, while Bridge retains 5%, likely earning fees for its services. This partnership marks their second collaboration, following a 2021 joint purchase of industrial properties in Miami and Los Angeles.

    The new investment will target "high-quality assets" in markets experiencing rising demand for logistics and warehousing. The US industrial sector remains strong, driven by retailers' need for faster shipping times amidst limited warehouse construction space. Bridge has faced challenges, including opposition to a planned warehousing complex in Deerfield, which led them to drop the project due to new zoning regulations.

    Despite this setback, Bridge has been active in the Miami area, acquiring a warehouse complex near Miami International Airport and securing a $53 million construction loan for a redevelopment project. Meanwhile, CPP Investments recently sold its 45% stake in a logistics portfolio to Norges Bank Investment Management, generating $1.07 billion.