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Lingerfelt and Partners Group Announce $175 Million Sale of 1.16 Million SF Industrial Portfolio
Lingerfelt, a vertically integrated real estate investment management firm, and Partners Group, one of the largest firms in the global private markets industry, today announced the successful sale of their 1.16 million square foot WalthallNorthlake Industrial Portfolio. The portfolio was sold to an undisclosed buyer for $175 million, or approximately $151 per square foot.
About this update from Partners Group Holding Ag
[{"type":"text","content":"RICHMOND, Va., April 15, 2026 /PRNewswire/ -- Lingerfelt, a vertically integrated real estate investment management firm, and Partners Group, one of the largest firms in the global private markets industry, today announced the successful sale of their 1.16 million square foot WalthallNorthlake Industrial Portfolio. The portfolio was sold to an undisclosed buyer for $175 million, or approximately $151 per square foot.","length":425,"tagName":"p"},{"type":"image","alt":"Lingerfelt (PRNewsfoto/Lingerfelt)","displaySize":"","headline":null,"caption":"Lingerfelt (PRNewsfoto/Lingerfelt)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":277,"url":"https://media.zenfs.com/en/prnewswire.com/0e1529a95ffd9ebe4986d686df910d04"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/XAT2aI8.EBYKtGUAqdoBag--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ4OA--/https://media.zenfs.com/en/prnewswire.com/0e1529a95ffd9ebe4986d686df910d04","width":400,"height":277}},"href":"https://mma.prnewswire.com/media/2014131/Lingerfelt_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Located in the Richmond, Virginia metropolitan area, the WalthallNorthlake Industrial Portfolio is a fully leased, Class A industrial warehouse and distribution portfolio that consists of four institutional-quality industrial buildings. This includes three buildings within Walthall Distribution Center in South Chesterfield, Virginia and one building within Northlake Distribution Center in Ashland, Virginia.","length":410,"tagName":"p"},{"type":"text","content":"Lingerfelt and Partners Group acquired the portfolio in March 2023 for $105.6 million through a joint venture, with Partners Group as the majority investor. The venture then successfully executed a comprehensive value-add business plan focused on curing deferred maintenance, modernizing building systems, and repositioning the assets to Class A market standards. This included completing a $9 million capital improvement program and executing 875,000 square feet of new and renewal leasing, resulting in a fully stabilized, 100% leased portfolio at the time of sale.","length":567,"tagName":"p"},{"type":"text","content":""The sale of this portfolio represents a successful exit for our real estate platform in the US," said Henrik Orrbeck, Co-Head of Real Estate at Part...