Arch Street Capital Advisors, acting on behalf of a capital partner, in partnership with Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial facilities throughout the United States, has sold an 11-asset portfolio spanning over two million square feet of net lease industrial and office properties.
“We are pleased to successfully exit this portfolio after diligently extending, leasing and improving the portfolio asset by asset over the past several years. The success of this portfolio demonstrates the unique benefits of this strategy which provides both residual upside and consistent yield,” said Christopher Collins, vice president of asset management at Arch Street Capital Advisors. “We continue to remain bullish on warehouse, distribution and manufacturing assets in both the U.S. and Europe.”
The portfolio, a joint venture between Arch and Brennan, was acquired via a single transaction in 2017 and included assets that lacked uniformity across the Midwest, Northeast and Southeast regions of the U.S. The business plan included a bespoke leasing strategy for each property before opportunistically selling the assets individually and in small pairings to extract the portfolio’s embedding value.
“The success of this investment demonstrates the strength of Brennan’s value-add operating platform,” said Robert Vanecko, managing principal at Brennan Investment Group. “We will continue to focus on buying single tenant net leased (STNL) assets and/or portfolios and will even consider non-homogenous portfolios as was the case with the subject transaction.”
The portfolio’s conclusion represents the seventh successful exit for the Arch-Brennan relationship.
