IOS Daily - January 21 - Cooper-Horowitz arranges $115M loan for IOS portfolio

NEWS ROUNDUP

FINANCING: Cooper-Horowitz arranges $115M loan for IOS portfolio. Cooper-Horowitz has sourced a financing loan for a portfolio of 23 IOS properties totaling 54.3 usable acres. The portfolio was acquired by a newly formed joint venture between Open Industrial and Heitman. The Cooper-Horowitz deal team included Justin Horowitz, Richard Horowitz, Ben Knopf, and Joshua Tropper. The Heitman deal team included Michael Walsh, while Michael Rabin, Jared Okun, Blake Potolicchio, Guggan Datta, and Peter Shkreli led the Open Industrial deal team.

ACQUISITION: Crosswest Capital buys 5.9 acre IOS in Central PA. Crosswest Capital has acquired 1511 Commerce Avenue in Carlisle, Pennsylvania. The property features a 20,000 SF industrial service facility. Derek Fish and Ben Andreycak led the Crosswest deal team. Jason Grace and Darren Smith with Landmark Commercial Realty facilitated the transaction.

ACQUISITION: Center Capital Partners buys 3.3 acre IOS in Houston, TX. Center Capital Partners has acquired 7229 Jackrabbit Road in Houston, Texas. The low-coverage property features 17,000 SF of warehouse space. Jack McNamee, Jeremy Cohen, and Ben Miller led the Center Capital Partners deal team.

DISPOSITION: Matthews sells 1.3 acre IOS in Amarillo, TX. Matthews has facilitated the sale of 1220 Southwest 5th Avenue in Amarillo, Texas. The low-coverage property includes a 10,115 SF industrial building and is currently leased to Core & Main. Taylor Dintzner with Matthews represented the seller and procured a buyer pre-market.

DISPOSITION: Lee & Associates sells 1.9 acre IOS in San Bernardino, CA. Lee & Associates has facilitated the sale of 386 South Allen Street in San Bernardino, California. Toby Tewell with Lee & Associates represented the buyers, while Cody Moran and Les Copelin (also with L&A) represented the seller. Carlo Samson at California Statewide CDC, Rob Cassanova and Bruce Hendricks with California Bank & Trust, Pamela Walker with Town & Country Escrow, and First American Title’s Jonalyn Lumpkins also assisted in the transaction.

PEOPLE MOVES: Outour Storage Investments hires new Acquisition Associate. Nate Palmer has joined the Outour Storage Investments team as an Acquisition Associate. In this role, Nate will focus on sourcing high-quality IOS assets across the US. Andrew Smith and Wade Cox assisted Nate in the career transition.

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