Starwood Strikes Deal for Goldman, Dalfen Warehouse Portfolio

Starwood Capital Group bought a warehouse portfolio for about $685 million, signaling increased demand for distribution centers closer to consumers.

Starwood bought the 38 warehouses from Goldman Sachs Group Inc. and Dalfen Industrial, according to a statement. Dalfen will continue to operate the portfolio.

The properties are located in major markets such as Dallas, Atlanta, Nashville and Austin. The warehouses are 89% leased to tenants including Wilson Sporting Goods, Amazon.com Inc., Walgreens Boots Alliance Inc. and Kroger Co., according to Sean Dalfen, chief executive officer of Dalfen.

“We look forward to collaborating with Starwood to create ...