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TRANSWESTERN INVESTMENT GROUP SELLS 2.9M SF MIDWEST INDUSTRIAL PORTFOLIO
(JULY 22, 2021 – DALLAS) – Transwestern Investment Group (TIG®) announces the sale of a 10-building, 2.9 million-square-foot industrial portfolio on behalf of its discretionary investment fund, TSP Value and Income Fund II. The properties, which were 100% leased at the time of sale to Stockbridge, span Missouri, Indiana and Ohio.
“The disposition reaffirmed TIG’s strategy to aggregate high-performing Midwest industrial product to create a multimarket portfolio that would provide the buyer an immediate presence in the region at a purchase price below replacement cost,” said Ryan Grable, Vice President at TIG. “Historically low industrial cap rates and high demand among investors made this the right time to sell the portfolio.”
The portfolio includes five buildings in St. Louis, two buildings in Indianapolis and three buildings in Columbus, ranging from 125,000 to 706,000 square feet. St. Louis, Indianapolis and Columbus are important e-commerce markets experiencing low industrial vacancy, positive net absorption and year-over-year rent growth. Among the 24 tenants, the weighted average lease term is 3.23 years and in-place rents are approximately 8% below current market rates.
CBRE’s Michael Caprile and Zachary Graham represented TIG in the transaction.
Stockbridge is a private equity real estate investment management firm led by veteran industry professionals. The firm’s portfolio comprises of assets across the investment risk spectrum, including core, value-added and opportunistic strategies. Stockbridge and its affiliates have approximately $21.7 billion of assets under management (as of March 31, 2021) spanning all major real estate property types and certain specialty property types, throughout the United States. stockbridge.com.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group (TIG®) is a real estate investment adviser with $6.3 billion of assets managed since inception. The firm serves a broad range of institutional and high-net-worth clients with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.