Singaporean Investor Sells Industrial Portfolio to Dallas Buyer

1 April 2026

UPDATED 4/1/26 9am

Singapore’s Mapletree Investments has been offloading industrial properties to wrap up a fund it launched in 2019.

The investor and developer has sold nearly $1.3 billion worth of U.S. warehouse properties since June. The sale of a 1.4 million-square-foot portfolio to Dallas-based Dalfen Industrial marks its fifth and latest divestment, according to a press release from Mapletree.

Dalfen paid $207.5 million, or $150 per square foot, for the 19-property portfolio. Newmark’s Jack Fraker, Dom Espinosa and Travis McEldowney represented the seller.

Mapletree did not specify the addresses of the properties in the deal, except that 13 are in North Texas, four are in Chicago, one is in Cincinnati and another is in Indianapolis, the release says. The portfolio contains mid-shallow bay properties, a term that refers to multi-tenant, infill warehouses with shallow building depths and smaller unit sizes.

The purchase aligns with Dalfen’s “strategy of aggregating last-mile industrial product in supply-constrained nodes,” CEO Sean Dalfen said in a statement.

In 2019, Mapletree, which also owns mixed-use and office properties, made a push in the U.S. and European logistics sector with a $1.8 billion fund. The hold period was a time of massive growth for North Texas’ industrial market. The end of 2019 marked the first time the region exceeded more than 30 million square feet of projects in the pipeline, a Cushman & Wakefield report from 2019 said.

Between the end of 2019 and the end of 2025, average asking rents rose from $5.11 per square foot to $8.38 per square foot, a 64 percent increase, according to Cushman & Wakefield reports. During that time, the region’s total inventory jumped from 775.6 million square feet to just over 1 billion square feet.

Dalfen specializes in last-mile industrial properties. The firm made headlines earlier this year when it was revealed as the partial owner of a New Jersey property acquired by U.S. Department of Homeland Security to be used as an ICE detention facility.

This story has been updated to reflect that the sale is not associated with Mapletree’s REITs.