Fundamental Income, a Phoenix-based net-lease real estate platform backed by a fund managed by Brookfield Asset Management, has paid $20 million for the sale-leaseback of a three-property, 313,000-square-foot, mission-critical industrial portfolio with properties in Visalia, Calif.; Birmingham, Ala.; and Lafayette, La.
The seller was Pacific Avenue Capital Partners.
The portfolio is triple-net leased on a long-term basis to AMICO. The portfolio includes AMICO’s headquarters and manufacturing space at 3240 & 3245 Fayette Ave. in Birmingham. Additionally, the 7300 West Sunnyview Ave. building is in California’s Central Valley community of Visalia and serves as the company’s chief manufacturing and distribution facility for perforated metal products. The portfolio is rounded out with a manufacturing facility at 209 Glaser Dr. in the southern Louisiana city of Lafayette.
The portfolio is in infill industrial markets, and the location caters to the specific
