Bridge Investment Group LLC (“Bridge”) today announced the launch of its logistics properties strategy (“Bridge Logistics Properties”), which aims to seek price dislocation, operational upside, and innovative redevelopment in markets where there is a confluence of existing and increasing population density, rapid e-commerce adoption, and constrained supply. This experienced and established vertically integrated team aims to pursue a high-volume aggregation strategy, inclusive of repositioning and development, that further seeks to optimize returns via off-market, single asset investments. The resulting strategic, infill-anchored portfolio seeks to generate a portfolio premium with its unique scale, stability, and diversity across logistics assets prepared to meet future distribution trends.
To lead this new strategy, Bridge has appointed two new partners. Jay Cornforth will serve as Chief Executive Officer and Co-Chief Investment Officer and Brian Gagne will serve as Co-Chief Investment Officer for the Bridge Logistics Properties strategy.
On the strategy launch, Robert Morse, Executive Chairman of Bridge, said: “We continue to look for new areas of the market where we see growth potential for our business, and we see that within the Logistics Properties space. With Jay and Brian’s combined four decades of experience, we believe they will provide investment opportunities and returns for our clients consistent with Bridge’s standards.”
About the Bridge Logistics Properties Team
Jay Cornforth, Partner, Bridge Logistics Properties – Jay serves as Chief Executive Officer and Co-Chief Investment Officer for Bridge Logistics Properties. For most of his career, Jay has focused on the industrial warehouse space and has over 25 years of experience. Over his career, Jay has directly invested or overseen $15 billion of deployment. Prior to joining Bridge, Jay was Managing Partner, Global Head of Logistics at Brookfield. At Brookfield, Jay oversaw Logistics investments in Brazil, Korea, China, and Western Europe, in addition to the USA. Jay was instrumental in launching Brookfield’s logistics platform and the acquisition, development, and management of 100 million square feet of logistics product. Between 2013 and 2016 during Brookfield’s ownership, Jay also dually served as CEO of IDI Logistics while he was Global Head of Logistics at Brookfield.
Before his role at Brookfield, Jay was President, East Region at Prologis and worked at AMB from 2003 to 2011, prior to the AMB/Prologis merger. Jay began his career with Cabot Industrial Trust and its successor company Cabot Properties where he held national development duties. He also worked at AEW Capital Management in various roles in Portfolio Management and Investments. Jay grew up in Montreal, Canada and received a Bachelor of the Arts from the University of Western Ontario and a Master of Science in Real Estate Development at New York University.
Brian Gagne, Partner, Bridge Logistics Properties – Brian serves as Co-Chief Investment Officer for Bridge Logistics Properties. Before joining Bridge, Brian worked at Brookfield to build out and lead the U.S. logistics investments team, where he oversaw both acquisition and development deployment from 2018 to 2021. In that time, Brookfield grew their U.S. investment and development portfolio by 35 million square feet. Prior to leading the logistics investment team at Brookfield, Brian worked at IDI Logistics, a Brookfield owned operating company, where he served as a Market Officer for the West Region. As Market Officer, Brian was responsible for all investments, asset management and development activities. Brian was critical to the stabilization of the portfolio while also building AUM in California through existing building investments, spec development and BTS transactions.
Before joining Brookfield, Brian was at KTR Capital Partners, a private logistics platform founded by principals of Keystone Property Trust. Brian joined KTR shortly after their formation in 2005 and saw the company grow from 0 to 75 MSF over a decade. Brian was made partner and selected to open the company’s West Coast office and lead their investment efforts. KTR was primarily an East Coast focused entity and Brian successfully expanded the company’s footprint into the high barrier markets of Southern California, Bay Area and beyond. He acquired or developed over $2B of assets in the Western U.S. prior to the sale of the company in June 2015 to Prologis. Brian holds a Bachelor of Science in Business Administration from Babson College.
About Bridge Investment Group
Bridge is a privately-held real estate investment management firm with ~$26 billion in assets under management as of March 31, 2021. Bridge combines its 1,650+* person, nationwide operating platform with specialized teams of investment professionals focused on select US real estate verticals, which Bridge believes offer above-market opportunity: multifamily, office, seniors housing, affordable housing, opportunity zones, and debt strategies. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in any vehicle managed by Bridge or any of its affiliates. This press release contains forward-looking statements about our beliefs and expectations related to the market and our logistics properties strategy, which are subject to various risks and may change.
*Plus approximately 2,300 professionals employed through a professional employment organization at sites managed by Bridge Senior Living.
Bridge Investment Group