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STAG Fund Picks Up $80M Financing

BOSTON-Citizens Bank and Bank of America are providing STAG Capital's fourth fund with $80 million to purchase warehouse, flex, manufacturing and office by year's end.

By Ryan Clark | Updated on October 08, 2008

BOSTON-Locally based Single Tenant Acquisition Group Capital Partners is netting $80 million for their fund STAG Investments IV Fund from Citizens Bank and Bank of America. The fourth realty investment fund for STAG, it will focus on warehouse, flex, manufacturing and office building properties. The terms of the financing were undisclosed.

“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.

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