IOS Daily - April 2 - Catalyst sells 2 IOS portfolios for $163.5M

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Good morning. This is IOS List, and we’re hanging with the A-listers.

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NEWS ROUNDUP

DISPOSITION: Catalyst sells 2 IOS portfolios with 18 properties for $163.5M. Catalyst Investment Partners has sold and recapitalized 2 IOS portfolios comprising 18 properties to a state pension fund. The properties are located in the in-demand metro areas of Atlanta, Baltimore, Charlotte, Northern New Jersey, Philadelphia, and Savannah. Nick Murphy with Eastdil Secured advised Catalyst on the transaction. Nell Hurley led the transaction with input from Dan Haroun, Max Heiden, Brandon Johnson, and the entire Catalyst team.

ACQUISITION: BLP buys low-coverage facility in Boston metro area for $175M. Bridge Logistics Properties (BLP) has acquired 185 and 197 Commercial Street in Malden, Massachusetts. The property features roughly 52,728 SF of industrial buildings on 3.26 acres and is 100% leased to Beacon Roofing Supply through 2031. The BLP deal team was led by Jonathan Slager. George O’Connor with Cushman & Wakefield represented both BLP and the seller, NorthBridge Partners, in the transaction. The NorthBridge deal team was led by George Gregory.

ACQUISITION: Alterra buys 7.23 acre IOS in Savannah, GA. Alterra IOS has acquired 2700 Louisville Road in Savannah, Georgia. The property features 13,069 SF of building improvements and is currently 100% leased to WillScot. The Alterra deal team was led by Charlie Totten and Sean Christman.

ACQUISITION: STRO/KRE buy 4.8 acre low-coverage property in Tampa. The STRO Companies and KRE Group have acquired 7000 East Adamo Drive in Tampa, Florida. The partners are planning significant renovations to the property, which features a 44,000 SF industrial building. The STRO deal team was led by Kevin Bramhall, while Jonathan Kushner led the KRE Group team. Peter Cecora, John Dunphy, and Olivia Brock with JLL facilitated the sale.

FINANCING: Lantern arranges $28.85M loan for 8.68 acre IOS in Roselle, NJ. Lantern Real Estate’s Capital Markets team has arranged an acquisition loan for 109 Aldene Road in Roselle, New Jersey. The sponsor was Sitex Group, which is developing the property for IOS use by a future tenant. Lantern is led by Matthew Seigel, Tal Bar-or, David Strongwater, and Skye Taylor. Brian Milberg and David Friedman lead the Sitex team.

PEOPLE MOVES: Open Industrial hires new Acquisitions Associate. Bradley Sampson has joined the Open Industrial team as an Associate, Acquisitions. Bradley’s previous experience includes positions with R.W. Holmes Commercial Real Estate and O’Brien Commercial Properties. At Open Industrial, Bradley will focus on expanding the firm’s IOS portfolio in the New England region.

FROM OUR PARTNERS

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1.3 AC | Fenced | Zoned M-1 (Heavy Industrial) | Excellent Location Near Prince William Parkway, US-28, and I-66

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1.93 AC | Paved and Graveled | Fenced and Gated | 2 Large Covered Storage Warehouses (10,750 SF and 26,600 SF) |(3) 14’x14’ Grade-Level Loading Doors | Close to TX-130, US-290, Tesla, Applied Materials, and Samsung

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5.34 AC | 2 Buildings Totaling 58,694 SF | Fully Paved Yard | Wrought Iron Fencing | Heavy Power | 3 Points of Ingress/Egress | Close Proximity to I-15, CA-91, Port of Los Angeles, and Port of San Diego