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The property prior to the sale, entered into a 10-year, 340-bed master lease with Columbia College in August. Greystar reports that the remaining 48 beds are fully leased for the 2019/2020 academic year.
The 7.2 MW-rated solar installation at Iron Mountain's data center in Edison (NJE-1) is forecast to generate more than 9 Million KWhrs per year, which is enough electricity to power more than 1,000 homes for a year.
The 899,755-square-foot portfolio combines with Marcus Partners' existing 1.1-million square feet of industrial product in Greater Boston to create a total industrial portfolio of 2 million square feet comprised of eight buildings.
The Boston-based firm received the latest round of funding from existing investors Wavecrest Growth Partners, River Cities Capital Funds, MassMutual Ventures and Camber Creek Ventures. The same investment group, led by Wavecrest Growth Partners, provided Building Engines $26.5 million in 2016.
The financing will help fund continued improvements at the 313-unit, 16-story Downtown Orlando multifamily property that also features 45,510 square feet of retail space anchored by a Publix supermarket.