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IRG Industrial issues $335m of USPP Bonds
Fundraising - MARCH 5, 2021

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IRG Industrial issues $335m of USPP Bonds

by Released

IRG Industrial, one of the country’s largest private owners of industrial properties, has announced that it has closed on an aggregate principal amount of $335 million of senior unsecured notes in an institutional private placement to support its growing industrial portfolio. Goldman Sachs served as sole placement agent for the offering. In December 2020, IRG received an inaugural investment-grade credit rating from DBRS Morningstar.

John Mase, CEO of IRG, said privately held real estate companies rarely receive investment-grade credit ratings, a distinction that recognizes IRG’s best-in-class management and helped IRG to exceed its fundraising goal shortly after going to market. IRG contemplated an offering of $250 million, and the offering was oversubscribed.

IRG partnered with a selection of 11 key investors that contributed to the $335 million principal amount, sec

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