Matterhorn Venture Partners and TPG Launch Programmatic Joint Venture and Acquire 2440 Pratt Avenue and 1000 N Main Street in the Chicago Metro Area
SOURCE Matterhorn Venture Partners LLC
CHICAGO, Feb. 10, 2026 /PRNewswire/ -- Matterhorn Venture Partners ("MVP") is excited to announce 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 Metro 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 partnership is actively seeking industrial value-add acquisitions with business plans encompassing rental rate mark-to-market, vacant property lease-up, repositioning of assets requiring capital investment or deferred maintenance, sale leasebacks, and industrial condo aggregation.
As part of this new joint venture, the firms recently closed on the acquisition of two vacant suburban Chicago industrial assets totaling $30 million in capitalized value. The first asset is a 184,902-square-foot industrial distribution building located at 2440 Pratt Avenue in Elk Grove Village, IL. The second asset is a 47,175-square-foot light industrial building located at 1000 N Main Street in Lombard, IL.
"These two acquisitions represent an excellent start to our venture partnership with TPG," said Scott McKibben, Chief Executive Officer of MVP. "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."
"These two assets provide a strong foundation for our joint venture with MVP" said Scott Glassberg, Managing Director at TPG. "We are excited to partner with the talented leadership at MVP to execute our shared vision. By combining MVP's deep operational expertise with our strategic resources, we are well-positioned to modernize industrial assets and deliver high-quality solutions that align with the demands of the tenant market."
"This transaction exemplifies the type of direct, value-add opportunities MVP will be targeting as part of this joint venture with TPG," added Tina Ramos, Principal and Co-Founder at MVP.
Leasing Inquiries
For 2440 Pratt Avenue, Elk Grove Village, IL leasing inquiries, please contact Brian Colson with Avison Young at [email protected].
For 1000 N Main Street, Lombard, IL leasing inquiries, please contact Joe Karmin with Transwestern at [email protected].
About Matterhorn Venture Partners
Matterhorn Venture Partners ("MVP") is a Chicago-based private real estate investment firm focused on acquiring and managing industrial assets nationwide. Since its founding in May 2024, MVP has completed approximately $130 million in total deal capitalization across eight states, encompassing more than 700,000 square feet. MVP co-invests alongside private and institutional capital partners to create value through targeted capital improvements, proactive asset management, and disciplined portfolio aggregation. Learn more at www.matterhornvp.com.
About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $303 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.
Media Contact
Matt Kay
Matterhorn Venture Partners
[email protected]
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