Concert Properties has formed a joint-venture with a Brookfield Asset Management affiliate on an eight-property Canadian industrial portfolio valued at approximately $1 billion.

The portfolio encompasses roughly 5.3 million square feet of logistics space across major logistics markets nationwide, said Concert. The assets comprise a mix of single-tenant and multi-tenant industrial properties located in Vancouver, Toronto, Calgary and Ottawa.

The unidentified properties are fully leased to a diverse roster of credit tenants and benefit from connectivity to key transportation infrastructure, including highways, airports and rail networks.

Concert said the portfolio represents stabilized, high-quality industrial real estate with embedded income growth potential in some of Canada’s largest urban logistics markets.

“We are pleased to be partnering with Brookfield, a globally recognized firm with deep expertise and a strong track record in real estate,” said Lindsay Brand, chief investment officer at Concert.

“Concert has a history of building partnerships defined by shared alignment and a long-term view, and this one is no different. Brookfield brings global scale and a disciplined approach to real estate investment, and we are excited about what we can build together. We look forward to actively managing this portfolio on behalf of the joint-venture and to identifying ways to grow this relationship over time.”

Andy Smith, managing partner of Brookfield’s real estate group, said the transaction reflects confidence in logistics-focused industrial assets.

“Concert has assembled and managed a strong Canadian industrial portfolio, and we are pleased to partner with them on assets that align well with our global logistics strategy,” he said. “We look forward to working together to create long-term value across the portfolio.”

CIBC and CBRE acted as advisors to Concert on the transaction.