- Ares and PSP Investments created a joint venture that can invest up to $2.4B in US logistics real estate.
- The venture starts with a 5.2M SF portfolio of 14 properties in major industrial hubs including California, Texas, and New Jersey.
- Marq Logistics will source and manage assets as the partners target cash-flowing properties in high-growth markets.
Ares Management and PSP Investments are scaling their US logistics exposure through a new institutional partnership. Business Wire announced that the firms formed a joint venture for US logistics real estate. The vehicle can deploy up to $2.4B and begins with 14 properties totaling 5.2M SF.
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US Logistics Venture Starts at Scale
The initial properties sit across major industrial hubs, including California, Texas, and New Jersey. The partners plan to target cash-flowing assets in high-growth markets rather than limit the strategy to ground-up development.
Marq Logistics, Ares Real Estate’s vertically integrated global logistics platform, will lead sourcing and manage the venture’s properties. That structure gives the partnership an in-house operating platform alongside PSP’s institutional capital.
The seed portfolio gives the venture exposure to several of the country’s most established distribution corridors from the start. The announcement did not identify individual properties, but it described the assets as high-quality logistics facilities in key hubs.
The partnership is designed to combine Ares’ extensive US sourcing footprint with PSP’s ability to commit capital at scale. That pairing lets the venture pursue opportunities across multiple logistics markets while keeping sourcing and asset management within one operating platform.
The Details
Ares described onshoring, digital-infrastructure growth, and e-commerce as demand drivers for strategically located logistics facilities. PSP said it sees durable demand and constrained supply in the submarkets it considers most attractive.
The venture extends an existing relationship between the two investors. Ares will contribute its sourcing network and logistics investment capabilities. PSP brings scaled capital and a stated preference for established operating partners.
Ares said the logistics thesis also rests on stronger domestic production and supply-chain investment. PSP emphasized structurally constrained supply in its preferred submarkets. It also highlighted the operating capabilities of Ares and Marq.
PSP described the partnership as consistent with its strategy of backing strong operators in high-conviction sectors. The pension investor specifically pointed to durable logistics demand and limited supply in the submarkets it wants to target.
Operating Platforms Bring Large Existing Footprints
Ares managed more than $671B of assets globally as of June 30, 2026. Its platform spans credit, real estate, private equity, and infrastructure. Marq Logistics manages more than 2,250 properties totaling over 655M SF worldwide.
PSP Investments reported C$320.6B of net assets under management as of March 31, 2026. Its portfolio spans public and private markets, including real estate, infrastructure, credit, and natural resources.
Marq’s platform focuses on development and operation of modern logistics facilities. Its scale gives the venture an existing system for leasing, property management, and asset-level execution. That reduces reliance on outside managers.
The scale on both sides is meaningful. Ares operates across several private-market strategies. PSP manages a diversified global portfolio across public and private markets. The venture pairs those balance sheets with Marq’s specialized logistics platform.
Why It Matters
The 5.2M SF seed portfolio means the partnership starts with operating scale before deploying additional capital. It also signals institutional conviction in logistics investment demand, a theme both Ares and PSP emphasized in the announcement.
The partners say they will focus on cash-flowing assets in high-growth markets. PSP also emphasized supply-constrained submarkets where it sees durable demand.
PSP said the structure fits its preference for experienced operators in sectors where it sees durable demand.
What’s Next
Marq Logistics will lead sourcing as Ares and PSP pursue additional opportunities within the $2.4B investment capacity. The announcement does not provide a deployment timetable or identify the 14 seed assets individually. Future acquisitions will determine how quickly the venture reaches scale and which US logistics markets receive the most capital. Eastdil Secured Savills advised Ares financially, while Cushman & Wakefield advised PSP.
Kirkland & Ellis served as Ares’ legal adviser. Fried, Frank, Harris, Shriver & Jacobson advised PSP. The adviser lineup reflects the institutional scale of the program.
