"There were 10 assets that went in at the time of funding," Ben Butcher, CEO of STAG Capital, tells GlobeSt.com. "And then we'll be buying more with the additional proceeds available to us." Previous funds have included as many as 37 states, he explains, this fund, while not as large will still be "geographically diverse." According to STAG, the fund will close by the end of the year. When the company closes this fund, Butcher says, it will begin with its fifth fund.
"We have an attractive collateral pool," Butcher explains. "We have diversified industrial assets, which is good collateral to lend against." Recently, STAG purchased the Famous Footwear warehouse in Sun Prairie, WI; and two fully-leased properties in Rural Hall, NC and Cheektowaga, NY.
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