5/9/17 – ElmTree Acquires $74.1 Million in Assets

St. Louis-based ElmTree Funds has announced new investments totaling $74.1 million. The assets include nine single-tenant healthcare, industrial and office properties spread out across the Midwestern, Southeastern and Southwestern areas of the U.S.

ElmTree, which is focused on the acquisition and operation of single-tenant, office, industrial and healthcare properties across the United States, acquired the latest real estate assets in recent months.  Eight of the nine buildings acquired are build-to-suit properties, and each is located in a different state. The assets consist of three industrial properties, four health care properties and two office properties, and they collectively represent a total of 312,974 square feet. Each property is 100 percent leased and occupied.

At 116,824 square feet, the largest of the properties in the portfolio is an office development in Farmington Hills, Mich. ElmTree was able to acquire the asset utilizing its vertically integrated platform, which includes expertise in real estate development, construction management, property management and capital markets. Specifically, ElmTree worked directly with the tenant –  Sumitomo Electric Wiring Systems, Inc. – to acquire a vacant building. Upon acquisition and lease execution, ElmTree oversaw a $7 million renovation to provide the tenant with a customized real estate asset built to suit its needs.

The other assets include:

  • A 70,600-square-foot office property in Greenville, SC, that houses CH2M Hill, Inc.
  • Two separate 16,668-square-foot healthcare developments in West Des Moines, Iowa, and Pasco, Wash.; a 16,694-square-foot healthcare property in O’Fallon, Mo., and a 16,686-square-foot healthcare development in Mount Juliet, Tenn. – all of which are occupied by BioLife Plasma Services, L.P.
  • Two separate 19,608-square-foot industrial facilities in Fort Myers, Fla., and Atlanta, Ga., and a 19,618-square-foot industrial property in Albuquerque, N.M. – all of which are occupied by H&E Equipment Services, Inc.

About ElmTree Funds, LLC

ElmTree Funds, LLC, is a private equity investment firm based in St. Louis, with offices and affiliates across the country.  The firm seeks opportunities in the commercial sale leaseback and net lease real estate markets. To learn more, visit www.elmtreefunds.com.

# # #

For more information, please contact:
Julie Hauser
(314) 436-9090