Arch Street Capital Advisors has sold 24 properties in 13 states to an unnamed Chinese alternative asset manager. No financial terms were disclosed.
GREENWICH, Conn., Dec. 11, 2017 /PRNewswire/ — Arch Street Capital Advisors, LLC (“Arch Street”), a Greenwich, Connecticut based real estate investment advisory firm, has announced the sale of 24 properties located across 13 US states totaling 3.37 million square feet of primarily single-tenant, long-term, net-leased, industrial properties on behalf of an institutional client. The sale marks Arch Street’s third successful exit of an industrial portfolio on behalf of its institutional client. The Portfolio was sold to a Chinese alternative asset manager.
The Portfolio is leased to a total of 21 tenants that represent 19 different industries. The Portfolio includes several mission critical properties with 14 out of the 24 properties serving as the tenant’s global corporate headquarters.
“We are pleased to have been able to strategically execute the sale of these assets on behalf of our institutional client after the successful implementation of our asset management and value-enhancement plan. “said Anup Patel, President and Chief Investment Officer of Arch Street Capital Advisors. “We remain active in the acquisition of single-tenant, net-leased, industrial assets and continue to search for new opportunities both on a portfolio and single asset basis.”
About Arch Street Capital:
Arch Street Capital Advisors, L.L.C. is a full service real estate investment advisory firm. Arch Street specializes in assisting investors with their U.S. real estate strategies including acquisition and joint venture advisory, financing advisory, and asset management and disposition services. Since 2003, Arch Street has advised clients on more than $6.0 billion of acquisitions, dispositions and financings. Arch Street manages, on behalf of its clients, a diverse portfolio of investments in the industrial, office, multi-family, single-family, hospitality, retail, health care, student housing, land entitlement and development sectors of the U.S. real estate market. For more information visit: www.archstreetcapital.com