Fund acquires properties totaling $115 Million in Q1; will close on five more totaling $145 Million this quarter
St. Louis-based real estate investment fund ElmTree Net Lease Fund II, LLC, has announced the recent closing of five single-tenant, net lease investment properties, totaling $115 million. ElmTree, which is focused on the acquisition and operation of single-tenant, office and industrial properties across the United States, acquired the five properties in the first quarter of 2015. The fund currently has an additional five properties under contract for a total price of $145 million, and ElmTree expects to close on those additional properties this quarter.
Three of the properties acquired by ElmTree during Q1 are industrial facilities. These include a 418,000-square-foot facility in Franklin, Wis., that is currently home to Quad Graphics. ElmTree will fund a 64,000-square-foot expansion on the existing facility, and Quad Graphics will enter into a new long-term lease for the expanded facility.
The other industrial properties include a 75,000-square-foot facility in Mansfield, Pa., which is currently occupied by Cameron International; and a 46,976-square-foot building in Las Vegas, Nev., which is occupied by Gerdau Ameristeel Corporation.
Also among the five acquisitions is a 90,000-square-foot office building in Berkeley, Mo., which is currently being leased to Vatterott College, and a 76,770-square-foot, build-to-suit, medical facility in Broomfield, Colo., which was developed by Base Line Partners and will be leased to Adeptus Health upon completion.
All five properties are currently occupied under long-term lease agreements.
With these latest acquisitions, the fund’s total assets have topped $535 million to date, and with the additional closings scheduled in the coming weeks and other deals in the works, the fund remains on target to grow to $1 billion by mid-year.
About ElmTree Funds, LLC
ElmTree Net Lease Fund II is a net lease fund sponsored by ElmTree Funds, LLC, 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, contact:
James G. Koman
Managing Principal
(314) 261-7348
OR
David Piasecki
Chief Operating Officer
(314) 828-4204
OR
Julie Hauser
The Hauser Group
(314) 436-9090