An investment group led by Ocean West Capital Partners and Tiger Alternative Investors has sold a 7-property industrial portfolio for over $900 million.
The portfolio totaled over 7 million square feet and was comprised of highly desirable industrial properties net leased to nationally recognized investment grade tenants.
The assets are all located in established logistics markets throughout the Sunbelt and Northeast, and the tenant list includes many of the largest and most well-known companies in the country.
Ocean West acquired the portfolio between 2019 to 2020 and added value throughout its ownership period through active oversight and thoughtful lease negotiations. At the time of sale, the portfolio had a weighted average lease term of over ten years.
“We are very pleased to announce the successful closing of this portfolio, which has performed incredibly well for our investors,” said Russ Allegrette, Principal of Ocean West Capital Partners. “When we acquired these buildings, we focused on assets in top-performing logistics markets with credit tenants and long-term leases in place. Together with Tiger, we continuously explored ways to add value through active asset management and successful lease negotiation.”
Ocean West and Tiger were represented by K&L Gates LLP on this transaction, and the Buyer was represented by Alvarez & Diaz-Silveira LLP.