Newswire

Simi Capital Acquires LI Property for $6M

Simi Capital (SC), a real estate investment firm focused on various equity and debt strategies, acquired a Long Island industrial property for $15 million in partnership with Cerberus Capital Management.

Simi Capital’s newest acquisition, located at 80 Jericho Turnpike in Syosset, is a six-acre site set to be utilized as an outdoor storage facility.

“This most recent acquisition further exemplifies our proven business model. Seeing the record high demand and low vacancy rates in the country-wide industrial logistics market, we are consistently looking to acquire ideally located assets such as 80 Jericho Turnpike,” said Andrew Skydell, founder of Simi Capital. “We are confident in the prolonged growth of the Long Island market with its robust demand for last-mile logistics facilities and a truly tethered supply.”

This is Simi Capital’s second acquisition in the New York City metropolitan area within the month between mid-October and mid-November In a transaction executed in mid-October, also in partnership with Cerberus Capital Management, Simi Capital purchased a New York City outdoor storage facility for $19 million. The almost seven-acre site is located at 2577 Forest Ave. in Staten Island.

 

 

Sign Up for Newswire


    [ctct ctct-115 type:hidden 'Mann Report Newswire::#158']

    Advertisements