Alexis. Brown Realty and Biynah Industrial Partners Acquire 7 Building Truck Terminal and High Throughput Industrial Portfolio
BALTIMORE & MINNEAPOLIS – (COMMERCIAL THREAD) – Alex. Brown Realty, Inc. (ABR) and Biynah Industrial Partners, LLC (BIP) are pleased to announce the closure of a seven-building truck terminal and high-throughput industrial portfolio located in Minneapolis, Indianapolis, Louisville , Des Moines and the Chicago suburbs. Funding was provided by a first loan facility from CIBC. JLL’s Matt Schoenfeldt organized the funding for the portfolio.
The acquisition of the portfolio is part of a larger joint venture between ABR Chesapeake Fund VI, a value-added real estate fund sponsored by ABR, and BIP to acquire transshipped truck terminals and high-speed industrial buildings nationwide. . On acquisition, the portfolio was 100% occupied. âWe are very excited to acquire this portfolio with ABR and its team. We have a great appetite for this type of product nationwide and look forward to expanding the portfolio exponentially in the near term, âsaid Jeff Josephs, Managing Partner at BIP.
âWe expect these assets to provide a solid foundation as we continue to assemble the portfolio,â said Tom Burton, Senior Managing Director and CIO of ABR. âBIP is one of our long-term partners with a successful track record. We are delighted to partner with them again, âadded Burton.
Alexis. Brown Realty, Inc. (ABR) is an independent real estate investment manager specializing in value-added, opportunistic and core-plus investments in the mid-market. The firm was founded in 1972 by the partners of Alex. Brown & Sons, a Baltimore-based investment bank organized in 1800. Since the inception of the company, ABR has acquired more than $ 4 billion in assets, representing more than 400 transactions. ABR has sponsored five real estate funds and is currently marketing its sixth fund. The company is an investment advisor registered with the SEC. www.abrealty.com
Industrial Partners of Biynah, LLC (BIP) is a Minneapolis-based private equity firm that makes direct investments in industrial real estate located in the United States. www.biynahpartners.com