Blue Ridge Industrial (BRI), a Dallas-based actual property non-public fairness agency, not too long ago accomplished the acquisition of a 28-property industrial portfolio in North Carolina’s Triad area. The properties — situated in Kernersville close to Winston-Salem — cowl a complete space of 1.4 million sq. toes and have been bought for $105 million. On the time of the sale, they have been 96% leased to a bunch of 66 tenants.
The belongings have been bought by an affiliate of Dogwood Industrial Properties. JLL Capital Markets organized the acquisition financing for BRI, securing a five-year, floating price mortgage via an entity managed by Argentic Funding Administration. The Debt Advisory group was led by Senior Managing Director, Jim Curtin, and Director Jarrod McCabe.
The portfolio consists of buildings with a mean clear top of 23 toes and a complete of 306 dock-high doorways. It additionally gives a mixture of entrance, rear, facet and cross-dock load configurations. In the meantime, the buildings range in measurement from 216,000 to 910,000 sq. toes. The most important property throughout the portfolio is a 30.15-acre plot situated at 1203 South Park Drive that incorporates a constructing space of 277,250 sq. toes.
Notably, this prime location within the South Park Enterprise Middle in Kernersville offers handy entry to interstates 40 and 85. Kernersville can be located 10 miles east of Winston-Salem and 17 miles west of Greensboro. Particularly, Winston-Salem (situated 25 miles west of Greensboro and roughly 70 miles northeast of Charlotte) gives wonderful connectivity to main metropolitan areas.
Since its institution in 2018, Blue Ridge Industrial has been actively buying properties and has already gathered a complete of 75 buildings throughout six markets and totaling 3.4 million sq. toes. Along with the newly acquired properties in North Carolina, the corporate — which was based by Michael Trapani and Nate Leifeld — additionally owns 5 properties in Greensboro.
Dogwood Industrial Properties, established by world funding agency TPG in 2019, has additionally made important investments in high-growth U.S. metropolitan areas. So far, Dogwood Industrial Properties has acquired greater than 12 million sq. toes of infill, multi-logistics house throughout greater than 130 buildings.
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