Bridge Logistics Value Fund II GP LLC and The Townsend Group announced 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. 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.