ElmTree Funds Acquires $570M in Net Lease Assets in Q3
Nine acquisitions totaling 2.5 million square feet across the U.S.
ElmTree Funds added nine new properties, including eight industrial assets and one office asset for a total of $570 million, to the nationwide portfolio held in the various investment vehicles the firm manages.
ElmTree’s nine acquisitions in Q3 2022 represent 2.5 million square feet of Class A space, with 14.5 years of weighted average lease term. Each of these net-lease properties are 100% leased, feature a weighted average credit rating of A+ (based on ratings issued by recognized credit rating agencies and ElmTree’s internal credit rating system), and are located in industrial markets throughout the U.S., including Florida, Nevada, Kentucky, Michigan, California, Wisconsin, Washington and Texas.
ElmTree has acquired 22 properties in 2022, building on the company’s strategic growth trajectory, with 18 of those assets in the industrial space. The firm expects to remain active in the market, generating strong deal flow for the balance of 2022 and into 2023.