REAL ESTATE INVESTMENT
NAS Investment Solutions | December 22, 2021
NAS Investment Solutions (NASIS), a national sponsor of high-quality real estate investment properties with a nationwide reputation for acquiring elite commercial real estate with investment grade tenants, has acquired a prime Class-A, office property in South Bend, IN.
Newly constructed in 2021, the 82,064 square-foot office building serves as the national headquarters for Press Ganey, the area's fifth largest employer and a leading provider of performance measurement and improvement services to U.S. healthcare providers. The company currently has 1600+ employees in 23 locations across the U.S. and over 41,000 customers, including over 80% of the largest U.S. hospitals and medical service providers. Press Ganey has a 98% customer-retention rating.
Assuming responsibilities for asset management and property management for the newly acquired investment is National Asset Services (NAS), one of the Nation's leading commercial real estate companies.
Since 2008, NAS has served over 2,500 investment clients and has established an impressive track record for investment property management. The track record includes generating over $585 million in cash distributions to property investors and managing a commercial real estate portfolio of 169 diverse commercial properties, comprised of 24.422 million square-feet, in 30 states. The overall value of NAS' managed portfolio in the company's 12-year history, totals over $3.325 billion.
We are extremely proud to have delivered an elite, trophy-class property to our investment clients while expeditiously closing the transaction for our 1031 Exchange investors, This property acquisition is the direct result of our tenacious acquisitions team, our exhaustive underwriting process and our transactions management expertise."
Karen E. Kennedy, President and Founder of NAS Investment Solutions and National Asset Services.
NASIS was represented by Paul D. Rubenstein, Attorney in Los Angeles, CA for the acquisition of the property.
Located less than two miles southwest of downtown South Bend, the Press Ganey property's structure and design were recognized by the Indiana Kentucky Associated Builders and Contractors with the 2021 Award of Excellence in Construction. The 6.8-acre site consists of approximately 408 surface parking spaces and features a unique 4,800 square-foot rooftop employee patio lounge.
About NAS Investment Solutions (NASIS)
NAS Investment Solutions was established to leverage National Asset Services' vast experience in investment property management by identifying, acquiring, and enhancing commercial real estate investments across all sectors of the real estate industry.
About National Asset Services (NAS)
Headquartered in Los Angeles, California, NAS manages a wide range of diverse commercial real estate: Office, medical office, multifamily, retail, student housing, assisted living and industrial flex properties. The company manages sole-owned and multi-owner properties. NAS offers a wide range of asset management capabilities. They include property management; project management; lease administration; acquisition and disposition services; real estate strategy analysis; long-range business objectives; monitoring changing market conditions; investor relations; real estate and investor accounting; loan modification and workout solutions; exit and hold strategies; leasing & marketing; tenant retention plans; research studies; site selections; feasibility studies; insurance risk management; capital improvement planning and tracking; property tax appeal services and cost segregation services.
prnewswire | September 09, 2020
Lion Real Estate Group ("LREG"), a real estate investment firm based in Los Angeles, today announced the acquisition of a portfolio of 584-apartment units across two buildings in Atlanta, Georgia – Everly Apartments (formerly 2800 at Sweetwater (324 units)) and Domain Apartments (formerly Ashford 6860 (260 units)) ("The Properties") – for $83.25 million. The Properties, purchased from The RADCO Companies, bring the estimated value of LREG's assets under management to more than $800 million, as of September 1, 2020.
REAL ESTATE INVESTMENT
JLL Income Property Trust | December 08, 2021
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.5 billion in portfolio assets, today announced the acquisition of Friendship Distribution Center, a newly constructed, four-building industrial portfolio totaling nearly 650,000 square feet. The Class A properties are located in the Atlanta suburb of Buford, Georgia, home to the premier Northeast Atlanta industrial submarket. The purchase price was $95 million.
"Friendship Distribution Center's location in Atlanta's Northeast submarket, high quality new construction and proximity to irreplaceable transportation infrastructure makes this an excellent portfolio fit for us as we continue to execute on our strategy of increasing our allocation to core industrial assets,". "Given this property's strong tenant profile and exceptional location, this acquisition aligns well with our overall strategic objectives."
-Allan Swaringen, JLL Income Property Trust President and CEO
JLL Income Property Trust's aggregate industrial allocation is now over $1.6 billion of industrial holdings in 54 properties across 13 key markets, representing the second largest property type allocation in the portfolio.
Friendship Distribution Center is in an "A" location, with immediate proximity to Interstate 985, the major highway in the Northeast Atlanta submarket. Its strategic location provides access to the entire Eastern seaboard within a one to two-day drive.
Friendship Distribution Center is 96 percent leased to five tenants, with a weighted average lease term of approximately six years. According to LaSalle Research & Strategy, Atlanta is the fourth largest industrial market in the U.S. with more than 660 million square feet of space. The market set an absorption record in the second quarter of 2021 of 8.6 million square feet, bringing vacancy down to just 5 percent. The Northeast submarket specifically saw 2.1 million square feet of net absorption in the second quarter, the highest of any submarket in the Atlanta metro area, accounting for 24 percent of total absorption.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms.
About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),
Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $76 billion of assets in private and public real estate property and debt investments as of Q3 2021. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments.