Mirabaud Asset Management has acquired a logistics facility in Houston, Texas from Indiana-based Duke Realty Corp. for $108 million.
The Katy Logistics facility, a 94,000 square meters fulfillment center in Houston is a state-of-the-art warehouse, fully leased until 2033 to the largest e-commerce company in the world.
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The asset is located in the highest growth area of Houston, only 15 minutes from the city’s population center and employs 1,600 people, shipping 40,000 packages daily.
“The Katy Logistics platform is a world-class institutional asset in a key market in the United States, leased to a fast growing global e-commerce company. We are pleased to have completed this acquisition on behalf of our clients and continue to look to grow our institutional real-estate portfolio with similar high-quality office and industrial properties,” said Vaqar Zuberi, Senior Vice President at Mirabaud Asset Management.
Miami-based Exan Group advised on the acquisition of the asset by a Luxembourg-based institutional commercial real estate partnership structured by Mirabaud Asset Management on behalf of its international clientele.
Mirabaud was advised on the acquisition by Exan, King & Spalding, EY, and Elvinger Hoss Prussen. Mortgage financing was provided by New York Life Real Estate Investors.
