Matterhorn Venture Partners, TPG Acquire Two Chicagoland Industrial Buildings

CHICAGO — Matterhorn Venture Partners (MVP) has formed a joint venture with TPG Angelo Gordon U.S. Real Estate to acquire a portfolio of industrial value-add assets in metro Chicago and surrounding Midwest markets over the next four years. The joint venture has an initial equity commitment of $300 million to deploy across industrial acquisitions in Chicago and surrounding target markets, with total buying power of over $900 million. As part of the new venture, the firms recently acquired two vacant industrial assets totaling $30 million in capitalized value. The first building totals 184,902 square feet in Elk Grove Village, while the second spans 47,175 square feet in Lombard. Brian Colson of Avison Young is handling leasing for the Elk Grove Village property, while Joe Karmin of Transwestern is the leasing agent for the Lombard facility.