REAL ESTATE INVESTMENT
Terreno Realty Corporation | May 23, 2022
Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property in Newark, New Jersey on May 19, 2022 for a purchase price of approximately $11.9 million.
The 2.4-acre improved land parcel at 127-167 and 147-163 Doremus Avenue is adjacent to Exit 15E of the New Jersey Turnpike and Terreno Realty Corporation’s 85 and 87 Doremus Avenue properties. The property is 100% leased on a short-term basis to one tenant and the estimated stabilized cap rate is 6.9%.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
AboutTerreno Realty Corporation
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.
REAL ESTATE TECHNOLOGY
businesswire | January 13, 2021
Fundamental Income, a Phoenix-based net rent land stage supported by an asset oversaw by Brookfield Asset Management (NYSE: BAM), procured over $215 million of land resources over the most recent four months of 2020. The properties are net rented to inhabitants working across a wide range of enterprises and situated in 16 states. The deal leaseback exchanges were involved both individual properties and multi-unit portfolios.
“We are excited about the successful start to our company and the foundation of excellence our team laid this year,” said Chris Burbach, CEO of Fundamental Income. “Our ability to deploy capital and establish strong business partnerships during this unique environment is a testament to the quality of people we have brought together and the platform we have built with a best-in-class partner in Brookfield.”
Driven by seven venture accomplices with a consolidated 50 years and $15 billion of net rent, capital business sectors and land insight, Fundamental Income puts resources into single-occupant properties net rented to working organizations across the United States. The firm dispatched in April 2020 with an underlying value responsibility of $500 million from an asset oversaw by Brookfield Asset Management (NYSE: BAM), a worldwide resource director with around $575 billion in resources under administration.
Crucial Income explored more than 170 exchanges and $4.6 billion in obtaining openings from its dispatch to the furthest limit of the year. The firm targets deal leaseback exchanges between $5 - $500 million across every one of the 50 states with organizations working in businesses, for example, Retail, Entertainment, Services, Industrials, Manufacturing, Distribution, Healthcare, and Automotive.
“The investments we made in the final months of 2020 demonstrate the transactional expertise and certainty of execution that our firm provides businesses and business owners across the country,” said Alexi Panagiotakopoulos, CIO of Fundamental Income. “We take pride in understanding our clients’ businesses and creating long-term partnerships to support their continued success and growth.”
About Fundamental Income
Led by seven investment partners with over 50 years and $15B of cumulative transaction history, Fundamental Income is a net lease platform focused on investing in single-tenant commercial properties, net leased to businesses operating in a wide variety of industries that directly or indirectly serve the US consumer. Fundamental Income provides real estate capital solutions and sale-leasebacks to businesses and business owners with established and growing operations across the United States.
Separately, Fundamental Income is also the Founder, Sponsor, and Index Provider to the NETLease Corporate Real Estate ETF (NYSE arca: NETL), which seeks to track the performance of the Fundamental Income Net Lease Real Estate Index (NETLXT) calculated by NASDAQ.
REAL ESTATE INVESTMENT
Standard Real Estate Investments | September 21, 2021
Standard Real Estate Investments, LP , a minority-owned real estate private equity firm focused on providing joint venture equity to developers, has formed a strategic investment program with Belay Investment Group, LLC (Belay).
We are proud to be aligned with Belay. They are a thoughtful, experienced team that shares our vision for how commercial investment actions can affect positive social change. Only two percent of professionally managed real estate is managed by minorities or women. This needs to change. Standard is just one part of a broader mobilization across the industry working to make it happen.
- Jerome Nichols, President of Standard
The investment program will leverage Standard's expertise in development to invest joint venture equity in ground-up projects nationwide, across asset types with emerging regional and local experts that have unique access to deal flow.
As part of its investment program with Belay, Standard recently closed on an investment in a 244-unit multifamily development project located at 75 West 18th Street in Downtown Indianapolis, IN. The 2.1-acre site is located within walking distance of the expanding Indiana University Health Methodist Hospital. The Developer is Arrow Street Development, an Indianapolis-based, emerging, minority-owned development company led by industry veteran, Rodney Byrnes.
Belay is an investment manager focused on the deployment of institutional capital through strategic partnerships with emerging managers and market sector specialists across a variety of value-add strategies and property types. The firm's strong fiduciary culture and track record are matched only by its commitment to manifesting social and environmental progress through the investments it makes. Current ESG strategies include investments in adaptive re-use of former big box retail space, workforce housing featuring on-site social programming initiatives designed to educate and empower its lower-to-middle class tenant base, and a multifamily debt portfolio curated with an eye towards bolstering the supply of attainable housing, while narrowing the affordability gap in Southern California.
Belay's collaborative culture is a great fit with our long-term plans and will be an asset to our platform. In the end, we will measure our success based on the performance of our investments and the impact we have in helping to increase diversity and inclusion in commercial real estate.
- Robert Jue, Chief Executive Officer of Standard.
About Standard Real Estate Investments
Founded by Robert Jue and Jerome Nichols, Standard Real Estate Investments (Standard) is a minority-owned and controlled real estate private equity firm that manages capital on behalf of institutions and allocates joint venture equity to developers. The firm operates nationally across property sectors and risk profiles with an initial focus on the development of market rate attainable housing while also accelerating positive socio-environmental impact. The leadership team at Standard has invested in assets valued at $7 billion in total.
About Belay Investment Group
Belay Investment Group, LLC is a majority woman-owned Los Angeles-based investment management firm that pursues debt and equity investment opportunities, primarily middle-market infill properties in urban/suburban transit hub markets, on behalf of its institutional investors. Belay implements its investment strategies through long-term relationships with high caliber, local operating partners and sector specialists. The firm has earned a reputation in the industry for supporting the growth and development of operators and emerging managers (including MWBE firms), beyond providing investment capital.