The Financial Post reports in its Wednesday edition that U.S. private equity firm TPG Inc. has acquired a majority share of a portfolio of warehouse properties around Toronto for $1-billion. A Bloomberg dispatch to the Post says that TPG will get 75-per-cent ownership of two industrial parks in the suburban cities of Brampton and Vaughan. The seller, Oxford Properties Group, will retain a 25-per-cent interest and continue to manage the assets. The Greater Toronto Area is "one of the most attractive industrial markets globally," Jacob Muller, a partner at TPG, said in a statement. The transaction is a rare sign of life in a commercial real estate market that as interest rates remain at multidecade highs. However, investors have still been bullish about the outlook for warehouse and logistics properties. Vacancy rates for warehouses in many Canadian cities are some of the lowest in North America, and supply remains constrained by difficulties in getting new ones built. That has made Canada's industrial real estate a target for foreign investors. In February, GIC, Singapore's sovereign wealth fund, completed its $5.9-billion buyout of Summit Industrial Income REIT in partnership with local player Dream Industrial REIT.