Transactions - JANUARY 13, 2020

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ElmTree Funds sells $900m net lease portfolio

by Andrea Zander

ElmTree Funds has sold a majority position in a portfolio of predominantly industrial and office properties to Guggenheim Investments.

The gross asset value of the 18-property portfolio is approximately $900 million.

ElmTree first began acquiring and developing these properties in 2016. Located in fast-growing metropolitan areas across the United States, this portfolio of build-to-suit net lease properties offers a steady income stream and capital appreciation over the long term. As part of the transaction, ElmTree will manage the assets for Guggenheim and maintain a small equity portion.

James Koman, CEO and founder of ElmTree Funds, commented, “As the uncertain rate environment continues, pensions and other institutional investors have demonstrated a deep appetite for current and predictable income streams. The yields we’re seeing from real estate leased to investment grade tenants provide a compelling alternative to corporate equivalent bond yields, whil

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