Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced its purchase and simultaneous leaseback of a 194,519 square foot facility to Westfall Technik in a joint venture with a client of Arch Street Capital Advisors, LLC. The building is 100% leased to Amaray, a specialized global plastic packaging company that was simultaneously acquired by Westfall Technik. The property has been occupied by Amaray since 2003.
“This acquisition demonstrates our quick-close capability as we went from letter of intent to closing in 42 days,” said Robert Vanecko, Brennan Investment Group’s Managing Principal and the head of the firm’s single-tenant, net lease division. “We are excited to add this property to our growing portfolio. We have a strong appetite for additional properties that meet our criteria.”
“The Amaray transaction is an example of our joint venture’s ability to partner with private equity firms to structure a simultaneous acquisition of an operating business and underlying real estate assets. The dual closings create an accretive transaction for both parties and allows private equity firms to right-size their equity investment at acquisition.” said Gautam Mashettiwar, Vice President of Arch Street Capital Advisors, LLC.
Kevin Brennan, Managing Principal at Brennan Investment Group stated, “We are pleased to complete the acquisition of 1300 West Park Road, located in the Bullitt submarket of Louisville. The Louisville market has demonstrated strong fundamentals, evidenced by over six million square feet of net absorption year-to-date, which is already nearly 120% higher than the highest year on record in 2015.”
Brennan and Arch Street continue to seek single tenant, net leased industrial investments meeting the following criteria:
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