Real estate
Stonepeak’s real estate team takes a focused approach to real estate investing by targeting opportunities at the intersection of infrastructure and real estate. We believe that our team’s experience coupled with advanced information from our broader global infrastructure portfolio provides for a differentiated strategy.
Our focused, thematic approach
We invest thematically, looking for high conviction real estate assets that demonstrate infrastructure-like characteristics. The opportunities we target have durable cash flow profiles, embedded demand drivers, high barriers to entry, offer inflation protection, and are mission critical to the businesses and communities they serve.
We target investment opportunities in real estate sectors supported by strong macro tailwinds:
Supply Chain
Residential
Healthcare
Technology
Deeply experienced team with shared working histories
Our real estate team draws upon its deep experience from prior leadership positions within leading investment firms to invest behind high conviction sectors. Our team is aligned, driven, and deeply committed to identifying opportunities that generate attractive risk-adjusted returns with an acute focus on preservation of investor capital.
Leveraging the strength and insights of the broader Stonepeak platform
We operate as one globally integrated business and investment team, which creates meaningful connectivity across the platform. As one firm, our real estate team benefits from full access to the power of Stonepeak’s leading infrastructure platform. Our market insights, extensive relationships, and ability to move with speed and certainty on complex transactions allow us to deliver a differentiated real estate strategy.
Our approach to real estate in action
High Conviction Theme: Supply Chain Real Estate Anchored by Port Infrastructure
Stonepeak acquired a three asset, 1.7 million square foot rail-served logistics portfolio in Chicago at the largest inland port in North America, anchored by the BNSF and Union Pacific Class I rail intermodal terminals. Given its central location and position as a strategic transportation hub, Chicago is the largest industrial and logistics real estate market in the United States with more than 1.2 billion square feet of inventory. All six Class I railroads converge in Chicago, with 25% of U.S. freight trains and half of all intermodal trains passing through.
These assets exhibit strong infrastructure characteristics given their proximity to the BNSF and Union Pacific intermodals, which serve as captive demand drivers and provide direct access to West Coast ports and the national Class I rail network. Our investment reflects a continuation of Stonepeak’s strategy to acquire supply chain real estate anchored by essential inland and coastal port infrastructure, informed by insights from across the firm’s broader infrastructure portfolio.
Meet the team
“We’re excited by the enormous opportunity set that exists within the intersection of real estate and infrastructure. Our real estate team’s deep industry relationships and years of shared working history combined with the Stonepeak platform are a powerful combination for investors.”
Phill is a Senior Managing Director and the Head of Real Estate at Stonepeak. Before joining Stonepeak, Phill was a Managing Director on the investment team at Blackstone where he helped launch Blackstone Infrastructure Partners after spending nearly a decade in Blackstone’s real estate group. Prior to Blackstone, Phill worked in Morgan Stanley’s real estate private equity and investment banking groups. Over the course of his career, Phill has played a key role in real estate and infrastructure investments representing nearly $100 billion of total enterprise value across the transportation, logistics, retail, gaming, healthcare, lodging, office, and residential sectors.
“Our ability to access Stonepeak’s infrastructure expertise and portfolio insights on a daily basis help us identify differentiated real estate investment opportunities where others may not be looking. We believe this is a true competitive advantage.”
Before joining Stonepeak, Connor was a Director at KKR in the Real Estate group. Prior to KKR, Connor worked in Real Estate investing roles at Cadre, Blackstone, and Morgan Stanley.
Andrew was a former Senior Managing Director and Head of Europe Asset Management for Blackstone’s Real Estate Group. Prior to leading the firm’s asset management team in Europe, Andrew worked for Blackstone in New York on the acquisitions team and was involved in analyzing and executing real estate equity investments across all property types.
Ralph was the founding President and CEO of LivCor, Blackstone’s multifamily portfolio company from 2013 until 2019, where he oversaw the aggregation, repositioning, and asset management of more than 70,000 units. Prior to joining LivCor, Ralph held senior roles at a number of leading real estate investment organizations, including Aimco (2007 – 2013), Hilton (2004 – 2007), and Catellus Development Corp (1995 – 2004) with responsibility for a variety of asset management and development-related activities.
