Transwestern Investment Group sells 1.5msf industrial portfolio
Transwestern Investment Group has sold a 1.5 million-square-foot industrial portfolio on behalf of the Diversified International Partners Fund. A joint venture between Weston and Arcapita acquired the nine logistics facilities in Indianapolis for an undisclosed price.
“This sale represents TIG’s strategy to acquire high-quality, institutional assets in prime locations,” said Richard Yeh, Managing Director at TIG. “During ownership, we were able to stabilize the rent roll and increase the portfolio’s net operating income by successfully executing the majority of lease transactions at rates that exceeded underwriting. That, coupled with the increased demand for infill industrial product, led us to achieve returns that exceeded our investors’ expectations.”
The portfolio was 96% occupied at the time of sale to tenants including Hat World and 3M. The properties, ranging from 54,982 square feet to 311,600 square feet, feature highly functional characteristic