Matterhorn Venture Partners has partnered with TPG AG U.S. Real Estate to acquire 16 industrial properties across the Chicago metropolitan area totaling approximately 986,000 square feet.
The properties form part of a broader 53-building shallow-bay industrial portfolio totaling approximately 5.4 million square feet that was acquired for $628 million with TPG AG, Matterhorn, Redfearn Capital and Atlanta Property Group participating.
Matterhorn will asset-manage the Chicago portion of the portfolio.
The acquisition expands the regional platform Matterhorn and TPG AG began building after launching a programmatic joint venture earlier in 2026.
The operating partners plan to manage assets serving distribution, logistics and manufacturing users.
Matterhorn sees opportunities to increase income through mark-to-market adjustments on existing rents, leasing current vacancies and targeted property improvements designed to improve tenant retention.
Founded in 2024, Matterhorn has already completed nearly $800 million of total deal capitalization across 12 states.
Its portfolio encompasses more than 6.3 million square feet of industrial real estate.
KEY QUOTES:
“Each operator underwrote its own markets asset by asset, and TPG AG gave us the certainty of execution to move on a portfolio of this size. Institutional capital paired with three operators who live in these submarkets is difficult to replicate.”
Scott McKibben, CEO Of Matterhorn Venture Partners
“We see meaningful opportunity to grow income through mark-to-market on in-place rents, lease-up of existing vacancy, and targeted capital investment to improve tenant retention.”
Matt Kay, Co-Founder And Principal At Matterhorn Venture Partners
