ASB-Lincoln JV sells industrial property for $30m
Transactions - OCTOBER 6, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

ASB-Lincoln JV sells industrial property for $30m

by Andrea Zander

ASB Real Estate Investment has sold 860 Harold Place, an 83,490-square-foot industrial property located in Chula Vista, near San Diego, for $29.75 million.

ASB made the sale on behalf of its Meridian Real Estate Fund II, a $175 million value-creation vehicle, which owned the property in a joint venture with Lincoln Property Company. The buyer was Exan Capital, an adviser to high-net-worth investors from Spain. The ASB-Lincoln joint venture bought 860 Harold in 2018 for $11.1 million.

Brodie Ruland, ASB managing director and co-head of acquisitions, said, “The full-building lease signing and subsequent upgrades to the property added significant value to the asset and created an excellent opportunity to pursue an attractive sale outcome.”

Forgot your username or password?