January 14, 2020
St. Louis, MO-based ElmTree Funds divested a majority position in a portfolio of predominantly industrial and office properties to Guggenheim Investments. The gross asset value of the 18-property portfolio is roughly $900 million.
ElmTree first began acquiring and developing these properties in 2016. Located in fast-growing metropolitan areas across the United States, this portfolio of build-to-suit net lease properties offers a steady income stream and capital appreciation over the long term. As part of the transaction, ElmTree will manage the assets for Guggenheim and maintain a small equity portion.
Notable properties in the portfolio include:
– A 1.5-million-square-foot industrial distribution facility in Dallas net leased to a multi-billion U.S.-based confectionary manufacturer.
– A 500,000-square-foot industrial facility in St. Louis, MO net leased to a multi-billion U.S.-based multinational courier delivery services company.
– A 375,000-square-foot industrial facility in Valley, AL net leased to a multi-billion U.S.-based corrugated packaging company.
For comments, questions or concerns, please contact Dennis Kaiser