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Brennan Investment Group Recaps Industrial Portfolio For $160M

This year the company has also closed a 2.3-million square foot sale leaseback with BlueLinx and began construction on the Elk Grove Technology Park.

Elk Grove Technology Park Photo by Brennan Investment Group

CHICAGO–Brennan Investment Group has recapitalized a 11-property industrial portfolio for $159.2 million with the Saudi Arabian firm Sidra Capital. The seller in the deal was a JV that included Arch Street Capital and Gatehouse Financial Group and that was represented by HFF. HFF also secured a 67% LTV, 10-year, fixed-rate loan with Goldman Sachs for the new owners.

The portfolio, called USIPA, totals 2.77 million square feet and is located in and around Atlanta, Chicago, Detroit, Minneapolis, Akron and Cincinnati in Ohio, Philadelphia and Dallas. Situated on a total of 199.9 acres, the portfolio is triple net leased to nine tenants and features single-tenant buildings ranging from 90,000 to 578,000 square feet.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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