Accelerate Infrastructure Opportunities announced a $780 million capital raise featuring a $630 million equity commitment from funds and co-investors managed by CBRE Investment Management (CBRE IM) and a $150 million inaugural asset-backed securitization.
Accelerate buys and manages real estate under critical infrastructure in digital, renewable, and transportation sectors and aggregates these assets into a managed portfolio that generates long-term, sustainable cash flow.
CBRE IM (on behalf of its funds and co-investors) increased its existing investment in Accelerate to a total capital commitment of $630 million. This capital raise will further support the growth of Accelerate’s diverse infrastructure site portfolio.
Accelerate and CBRE IM joined forces to launch the infrastructure site acquisition strategy in December 2022. Since then, Accelerate has acquired interests in more than 200 properties in 38 states under digital, renewable, and transportation infrastructure assets.
Accelerate issued a $150 million asset-backed securitization on a diversified portfolio of properties under critical infrastructure assets, making the securitization the first of its kind. This issuance was oversubscribed and included support from several investors. Morningstar DBRS provided an investment-grade rating of A (low) for Accelerate’s securitized notes.
Accelerate had engaged TD Bank as the sole structuring agent and joint book-runner, Cantor Fitzgerald as the joint book-runner, and Katten Muchin Rosenman as legal counsel for the asset-backed securitization. King & Spalding provided legal counsel for the underwriter.
KEY QUOTES:
“We are grateful to CBRE IM and its partners for their investments that allow us to continue to execute and scale our leading infrastructure real estate strategy. All our investors recognize the significant need for investment in infrastructure real estate to support the build out of a connected and sustainable economy. Accelerate is here to help meet that need.”
-Brennan Potts, founder and CEO of Accelerate
“Combining Accelerate’s high-performing, value-based team with the expertise and breadth of the CBRE platform has allowed Accelerate to quickly win market share across multiple infrastructure sectors and cement its leadership position. Accelerate’s proven track record, creative structuring and long-term partnership focus positions Accelerate to be the partner of choice to help landowners, brokers and infrastructure companies realize the full value of the land underneath critical infrastructure assets.”
-Rob Shaw, Managing Director at CBRE IM
“We are proud of the quality of our inaugural ABS issuance, which signals a strong endorsement of our strategy and the value and stability of our high-quality, diversified portfolio. We believe that establishing Accelerate in the ABS market opens the door to future financing opportunities and allows Accelerate to provide a competitive cost of capital to our customers.”
-Brandon O’Gara, president and CFO of Accelerate