GID, the US-based real estate investment management firm, announced the formation of a new joint venture with an affiliate of StepStone Real Estate, the real estate arm of global private markets investment firm StepStone Group (Nasdaq: STEP), and the closing of a US$985 million manager-led secondary in an 8 million-square-foot industrial portfolio. One of the largest US industrial transactions year to date, the portfolio comprises 87 buildings across eight major US markets.
Latham & Watkins LLP represented StepStone Real Estate in the transaction with a Real Estate team led by partners Michael Haas and Mark Semotiuk, with associates Jacob Axelrod, Marcelo Garza, Jennifer Lan, and Carela Mendez.* Advice was also provided on tax matters by partner Gregory Hannibal, with associate Nicholas Sun.
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