Indianapolis' original leading source for commercial real estate news, analysis, trends, events and resources in office, industrial, retail, multifamily, hotel, healthcare and net lease property sectors.
The respective properties were acquired through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding company, and a global institutional asset management firm. The properties will be leased back to the seller on a triple-net basis.
With the passing of one partner, Rubenstein determined that since cap rates for sales are attractive, and warehouse and logistical center property is in demand, it was a good time to sell, says Mandelbaum Salsburg attorney Owen Hughes.
Warren Thompson, a restauranteur and food and facilities management entrepreneur, brings oversight and finance experience to the nationwide industrial REIT.
The property is in a densely developed area on the employment-rich north side of Indianapolis, a demographic that presents strong opportunities for Emma Capital, says the firm's asset manager, Brian Rakowski.