Dalfen Acquires 1.4-Million-Square-Foot North Texas & Midwest Industrial Portfolio

Dalfen Industrial has acquired a 1.4-million-square-foot portfolio from Singapore-based Mapletree Investments for $207.5 million. The deal, which breaks down to $150 per square foot, marks the fifth divestment for Mapletree as it wraps up its 2019 U.S. & European Logistics Private Trust. This $1.8-billion, closed-end fund was launched during a period of significant growth for industrial markets, particularly in North Texas.

The 19-property acquisition includes 13 industrial spaces in North Texas, four industrial spaces in Chicago, and one each in Cincinnati and Indianapolis. These assets are categorized as mid-shallow bay properties — multi-tenant, infill warehouses characterized by smaller unit sizes and shallow depths.

Newmark’s Jack Fraker, Dom Espinosa and Travis McEldowney represented Mapletree in the sale.

“This acquisition provides immediate scale in one of our highest conviction submarkets in Dallas-Fort Worth and the Midwest,” said Sean Dalfen, president and CEO of Dalfen Industrial. “The portfolio’s infill locations, diversified tenancy and embedded mark-to-market opportunity align seamlessly with our strategy of aggregating last-mile industrial product in supply-constrained nodes.”

“We’re pleased to deliver another strong result for our investors through this strategic disposition,” said Richard Prokup, CEO for U.S. operations at Mapletree. “As we redeploy capital, we are prioritizing development opportunities that meaningfully advance the scale and competitiveness of our national industrial pipeline.”

Mapletree has now sold nearly $1.3 billion in U.S. warehouse assets since June. Previous divestments include a 4.4-million-square-foot East Coast portfolio sold to EQT Real Estate in March 2025; a 2.4-million-square-foot Sun Belt portfolio in July 2025; and a six-building warehouse collection sold to Equus Capital Partners in September 2025. Divestments notwithstanding, Mapletree remains a major player in the logistics and warehousing sector, managing more than 66 million square feet of U.S. industrial assets with another 2.6 million square feet currently in development.

Dalfen has also been active on both sides of the ledger recently: The firm sold three Florida buildings totaling 450,505 square feet in February and partnered with Goldman Sachs last year to sell 38 warehouses to Starwood Capital Group for approximately $685 million.