An international investment firm now owns an industrial park at DFW International Airport.

New York-based Brookfield Properties acquired the three-building Passport Logistics Center.

The 1.2 million-square-foot warehouse and distribution complex was developed by Dalfen Industrial, which has headquarters offices in Dallas and Canada. The buildings are at the south end of the airport near Airport Freeway and are part of the airport’s mixed-use Passport Park development.

Dalfen built the Passport Logistics Center in partnership with Brookfield, which now is the full owner of the business park.

“With the project’s prime location and best-in-class functionality, Brookfield Properties leased 50% of the project during construction,” Brookfield Properties officials said in a statement. “Over the past three years, Brookfield Properties has increased its footprint in the Metroplex, adding over 5.5 million square feet across nine transactions.”

During the last year, Brookfield has added more than $1.2 billion in logistics properties in the U.S.

North Texas warehouse construction is barely keeping up with demand.

Dalfen Industrial in turn has bought five industrial buildings in Fort Worth and San Antonio.

In Fort Worth, Dalfen acquired the new Mark IV Commerce Center, a three-building, more than 1 million-square-foot industrial park at Interstate 35W and Interstate 820. The buildings were developed by Crow Holdings Industrial.

Dalfen also purchased two industrial buildings north of San Antonio off Interstate 35.

“Best-in-class properties in exceptional infill locations make these acquisitions a natural fit for our rapidly growing portfolio,” Sean Dalfen, president and chief investment officer of Dalfen Industrial, said in a statement.

Dalfen Industrial now owns more than 4 million square feet of industrial buildings in Texas.

Dalfen Industrial bought the Mark IV Commerce Center in North Fort Worth.
Dalfen Industrial bought the Mark IV Commerce Center in North Fort Worth.(Dalfen Industrial )

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The business district in Brussels, Belgium. 

Photographer: Jasper Juinen/Bloomberg

The European Union wants to at least double the pace of renovation of homes and offices over the coming decade in a bid to save more energy and meet stricter climate goals under a sweeping green overhaul.

The Renovation Wave strategy, to be unveiled by the European Commission on Wednesday, will outline steps needed to accelerate upgrades of more than 200 million existing buildings — including insulation and change of heating equipment — at a cost of nearly 300 billion euros ($355 billion) per year, according to draft EU documents seen by Bloomberg News.

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Buildings account for more than a third of EU greenhouse-gas emissions, and improving their energy efficiency is a prerequisite for Europe to meet its Green Deal goal of becoming the world’s first climate-neutral continent by the middle of this century. The EU regulatory arm in Brussels has a policy of not commenting on documents before they are made public.

“Building renovation represents an enormous opportunity not only for emissions reductions, but also economic growth and improved health and well-being,” said the Buildings Performance Institute Europe think-tank in Brussels.

The commission wants to increase the average rate of energy renovation to 2% per year by 2030 from the current 1%, according to the EU documents. That would mean upgrades of 35 million buildings over the next 10 years, a move that would not only benefit the environment but also create as many as 160,000 green jobs.

The initiative will be financed through the EU economic recovery program and various support instruments, including incentives for private investment. The commission wants to focus on cutting emissions from heating and cooling, tackling the most leaky buildings and