NEW YORK, June 30, 2025--(BUSINESS WIRE)--Town Lane (www.townlane.com), a real estate investment management firm, Corebridge Real Estate Investors and Equus Capital Partners announce the acquisition and sale of a premier 2.7 million square foot portfolio of highly infill, shallow bay industrial real estate encompassing 55 buildings across six industrial parks in Raleigh-Durham. The acquisition also includes nearly 40 acres of land across three of the parks available for future industrial development.

Town Lane bought the portfolio from Corebridge Real Estate Investors and Equus Capital Partners. The portfolio will be managed and leased by the dedicated team at BPG Management, an affiliate of Equus, a locally based group that has operated the parks for the last 20 years. Equus will retain a minority interest in the portfolio going forward.

The portfolio serves a diverse mix of regional and local economy tenants given the infill nature of the locations and varying suite sizes. The assets are concentrated in last-mile, supply-constrained areas and have demonstrated resilient performance across economic cycles. Raleigh-Durham continues to rank among the most dynamic and high growth regions in the U.S. benefitting from sustained population growth, a highly educated labor force, low unemployment and robust business investment from industries spanning technology, manufacturing, healthcare, business services, and education.

"After 4+ years of owning this portfolio, we are thrilled with the results of our business plan execution, which included investing in property level building enhancements and driving rent growth through the execution of over 2 million sf (78% of portfolio GLA) of new, renewal and expansion leases," said Doug Tymins, CEO of Corebridge Real Estate Investors.

"This transaction demonstrates our commitment to investing in high-quality, difficult to replicate infill industrial real estate in growth markets with enduring fundamentals," said Garret Overlock, Managing Director at Town Lane. "These parks provide mission-critical infrastructure for so many businesses that power the local economy in Raleigh-Durham. We are excited to acquire a portfolio of this scale in a market we believe will continue to experience superior growth going forward."

In addition to the development sites that may be activated to expand the footprint within the existing parks, Town Lane intends to continue investing in the portfolio via value-add capital expenditures to further serve tenants.

Advisors: Simpson Thacher & Bartlett LLP served as legal counsel to Town Lane, while Goodwin Proctor represented Corebridge and Equus. Eastdil Secured, LLC advised on the sale.

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About Town Lane Town Lane is a boutique, relationship-driven real estate investment manager. Based in New York City, the firm invests thematically and nimbly across commercial real estate sectors and throughout the capital stack. Town Lane was founded in 2024 after raising $1.25 billion of institutional investor capital targeting opportunistic returns for its inaugural fund. The firm's investment strategy seeks to identify emerging trends, evaluate misunderstood opportunities, and capitalize on episodic market dislocations.

About Corebridge Real Estate Investors

Corebridge Real Estate Investors is the real estate equity investment management division of Corebridge Financial. CREI has a portfolio consisting of approximately 40,000,000 square feet with over $9 billion in assets under management, as of December 31, 2024. For more information, visit corebridgefinancial.com/realestate.

About Equus Capital Partners Equus Capital Partners is a national vertically integrated real estate investment manager and developer with over 40 years of investment experience. Equus’ diversified portfolio consists of industrial, multi-family, and office properties located throughout the United States. The firm has demonstrated a strong track record in industrial real estate, having invested in, managed, and developed approximately 56 million square feet of industrial properties, with approximately 32 million square feet currently under management. The firm is headquartered in the Philadelphia area with regional offices in Marina Del Rey, Scottsdale, Washington D.C., Atlanta, Raleigh-Durham, and South Florida.

For more information, visit www.townlane.com.

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