Equus Capital Partners, Ontario Teachers' Complete Industrial Real Estate Acquisition of 523,407-SF Ashton Logistics Park in Richmond
RICHMOND, Va. — Equus Capital Partners, Ltd. and Ontario Teachers Pension Plan have completed the acquisition of Ashton Logistics Park, a two-building, 523,407-square-foot Class A industrial real estate portfolio located in Chesterfield County, Virginia, the firms announced June 10, 2026. The acquisition marks the inaugural transaction under a new joint venture between the two institutions targeting core and core-plus assets in U.S. markets that have demonstrated resilience through economic cycles.
The portfolio is fully leased to two institutional-quality tenants with a weighted average lease term of approximately 8.5 years. Financial terms of the transaction were not disclosed.
Asset Details: Two Class A Industrial Buildings Constructed in 2024
Ashton Logistics Park consists of two adjacent Class A logistics properties built in 2024 and situated within Richmond's I-95 South industrial submarket near the Ruffin Mill interchange. The larger building, located at 1660 Ashton Park Drive, totals 437,657 square feet and features cross-dock loading, 36-foot clear heights, and substantial trailer storage capacity. The second building, at 1630 Ashton Park Drive, totals 85,750 square feet and offers a rear-load configuration, 32-foot clear heights, and dedicated outdoor storage.
Both buildings incorporate modern industrial specifications, including tilt-wall construction, ESFR sprinkler systems, LED lighting, and heavy power infrastructure.
Joint Venture Strategy Targets Core and Core-Plus Assets
The Ashton Logistics Park acquisition represents the first deployment of capital under a newly formed joint venture between Equus Capital Partners and Ontario Teachers' Pension Plan. According to the firms, the partnership is focused on core and core-plus assets in key U.S. markets that have consistently delivered long-term performance.
"Richmond continues to emerge as a key distribution hub along the Eastern seaboard, supported by population growth, infrastructure investment, and proximity to the Port of Virginia," said Tim Feron, Senior Vice President of Equus Capital Partners, who oversaw the acquisition alongside Tucker Scaringe, Associate. "Ashton Logistics Park benefits directly from these dynamics, offering modern, well-leased facilities with strong connectivity to regional and national supply chains."
Ontario Teachers' Pension Plan framed the deal as a strategic entry into the U.S. East Coast logistics market. "The acquisition of Ashton Logistics Park builds on our strategy to gain exposure to the U.S. industrial sector," said Karl Kreppner, Senior Managing Director, Real Estate, for Ontario Teachers'. "This asset provides us with a strategic entry point into the East Coast logistics market while delivering stable cash flows and offering long-term growth potential. Working with the Equus team, we have an opportunity to create additional value through active management."
Richmond's I-95 South Submarket
The portfolio's location within Richmond's I-95 South industrial submarket positions it along one of the East Coast's primary distribution corridors, with access to major interstate networks serving the Mid-Atlantic and Southeast regions. Equus Capital Partners cited Richmond's population growth, expanding labor pool, and recent investment activity from global organizations as factors reinforcing long-term industrial demand in the market.
No additional details regarding financing, sale price, or the identity of the sellers were disclosed in the announcement.
Sources: Equus Capital Partners — Official Announcement, June 10, 2026