Lower Terra Portfolio

Brennan identified mission critical manufacturing properties as an attractive investment during the recovery from the Great Financial Crisis.   Brennan opportunistically acquired two portfolios of such properties during 2012 totaling 39 properties and 6.2 million square feet.

Brennan subsequently combined and recapitalized the portfolios with a public REIT while retaining a significant ownership position.  Post-recapitalization, operating distributions exceeded 14% and Brennan continued to execute its value-add strategies of targeted asset sales, capital expenditures and lease extensions.

In 2021, Brennan recapitalized again, bought out the public REIT and increased its ownership position further.  Currently, Brennan is executing a plan to monetize the portfolio through a series of asset sales.  In addition, Brennan has grown its overall net lease business to encompass over 150 properties and over 25 million square feet through both portfolio acquisitions and aggregation strategies.