Realterm secures funding to support cargo projects at ORD, JFK, MHT and PIT

Real estate developer Realterm has secured $150 million from investors for its open-ended fund Realterm Airport Logistics Properties (RALP) to fund cargo projects in Chicago (ORD), New York (JFK), Boston (MHT) and Pittsburgh (PIT). Already under construction are a 350,000-square-foot cargo project at JFK ; an 800,000-square-foot cargo processing space at ORD, and 100,000-square-foot building at MHT. Another project at PIT is still in the design stage, David Rose, managing director and senior fund manager at Realterm, told Air Cargo World . He further noted that all new air cargo projects must be designed with sustainability in mind, including renewable energy initiatives that support the transition toward electric ground support equipment (GSE). [caption id="attachment_76581" align="alignright" width="471"] Chicago O'Hare Airport's (ORD) Northeast cargo facility, developed by Aeroterm. Photo/Aeroterm[/caption] “The coming years will see a shift in how these facilities function both within the warehouse and across the allocated site,” Rose said. “Facilities must be flexible for future changes in how goods move through the logistical chain. As a long-term owner of the properties, we are entering into a partnership with the airport and local community that will last decades, so we need to build facilities with an ability to adapt to changing market dynamics.” While the $150 million in capital funds will primarily support those development projects at the designated airports, the remainder will go toward other projects, Rose said. “We are in discussions with various airports about their facility needs,” he said. “The funding is not specifically set for only airfreight, so I believe we will also invest in other support facilities in the near term.” With cargo demand growing continuously, more airports have been looking to expand their cargo footprints. Aeroterm, the airport development subsidiary of Realterm, announced plans in March 2021 to construct a 140,000-square-foot cargo building at PIT with the potential for two, 10-year lease renewals. Later that month, Aeroterm opened a 50,400-square-foot multi-tenant airside cargo facility at Cincinnati/Northern Kentucky International Airport (CVG). More recently the airport developer acquired two warehouses in Dorval, Quebec near Montreal-Trudeau International Airport (YUL) , securing more than 220,000 square feet of warehouse space. See also : Growth opportunities: US cargo infrastructure needs investment for the future RALP, the investment platform for Aeroterm, has raised around $900 million in total equity commitments since 2015 and has retained all original investors, primarily consisting of public and private pension funds. Including the two recent acquisitions in California and Canada, RALP consists of 110 properties at 37 airports in North America, according to a May 2 release. The Air Cargo Tech Summit, the new airfreight logistics event presented by Air Cargo World , will take place LIVE in Miami from June 6-7. Learn more and register here.

Realterm secures funding to support cargo projects at ORD, JFK, MHT and PIT

Real estate developer raises $150 million for logistics fund

Jet fuel prices reach historic highs in April

Hellmann’s Pottharst joins Air Cargo Tech Summit to discuss geo-location tech

Related Posts

Podcast: Charlotte Douglas International Airport sees cargo opportunity in international growth

Teleport chooses AVV as Australian hub to support Asia-Pacific network

GSP eyes secondary freighter airport network

Hellmann’s Pottharst joins Air Cargo Tech Summit to discuss geo-location tech

Cargo Facts Free Newsletters

Cargo Facts Connect Podcast

Follow Us

Welcome Back!

Retrieve your password