Matterhorn Venture Partners has formed a new joint venture with TPG Angelo Gordon U.S. Real Estate to acquire and aggregate a portfolio of industrial value-add assets in the Chicago area and surrounding Midwest markets over the next four years.

The joint venture has an initial equity commitment of $300 million to deploy across industrial acquisitions in Chicago and surrounding target markets, with total buying power of over $900 million. The firms recently closed on the acquisition of two vacant suburban Chicago industrial assets totaling $30 million.

The two properties include a 184,902-square-foot industrial distribution building at 2440 Pratt Avenue in Elk Grove Village and a 47,175-square-foot light industrial building at 1000 N Main Street in Lombard.

“We’re proud to acquire two quality assets from an institutional owner and look forward to swiftly executing lease-up business plans at these well-located assets,” said Scott McKibben, Chief Executive Officer of Matterhorn.

Don’t miss Carter Andrus, Chief Operating Officer of Prologis, as the keynote interview at Connect Industrial Midwest— taking place Tuesday afternoon, March 10, 2026, at Joe’s Live in Rosemont, IL.