Brennan Investment Group Acquires Second Major Industrial Portfolio in 2012 With Gatehouse Bank plc
TO DATE, BRENNAN AND GATEHOUSE HAVE ACQUIRED 39 PROPERTIES WITH A COMBINED PURCHASE PRICE OF NEARLY $350 MILLION
CHICAGO, Nov. 29, 2012 /PRNewswire/ -- Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates industrial properties on a national basis, announced its acquisition of a $178 million, 19 property national industrial portfolio in a joint venture with Gatehouse Bank plc, a wholesale Shariah-compliant bank based in London. The portfolio is located across 13 states covering each geographic region of the country and is 100% leased to 16 tenants covering a diverse range of industries with a weighted-average remaining lease term of 14 years. Shariah-compliant financing for this second portfolio acquisition was again provided by The Royal Bank of Scotland plc. To date in 2012, Brennan and Gatehouse have acquired two portfolios totaling 39 properties with a combined purchase price of nearly $350 million.
Michael Brennan, Chairman and Managing Principal of the Brennan Investment Group stated, "We are pleased to complete our second acquisition with Gatehouse this year. U.S. industrial markets continue to demonstrate improving fundamentals, with nearly every major market posting positive absorption and rising occupancies. The acquisition of 19 critical use facilities, located in major markets, provides our investment a high degree of predictability both now and in the future."
"We are pleased to complete another major acquisition with Brennan Investment Group," said Fahed Boodai, Chairman of the Board of Directors at Gatehouse Bank. "Gatehouse seeks to partner with best-in-class operators such as Brennan with demonstrated expertise in specific real estate sectors. This venture will capitalize on Brennan's expertise in U.S. industrial real estate to generate compelling risk-adjusted investment returns."
Bret Hardy and Greg Cizik of Colliers International represented the seller in the transaction. The seller was an affiliate of AIC Ventures. Arch Street Capital Advisors, a full-service real estate investment advisory firm, assisted Gatehouse Bank in this transaction.
About Brennan Investment Group
Brennan Investment Group, LLC (BIG) is a Chicago-based private real estate investment firm that acquires, develops and operates industrial properties in select major metropolitan markets throughout the United States. Drawing on their deep experience, principals of BIG co-invest with institutional capital partners to achieve outstanding risk-adjusted returns in the industrial property sector. The firm's commitment to the sector is rooted in the belief that industrial real estate is a large, stable, and diversified investment class that offers a compelling opportunity for both current income and appreciation across an array of property subtypes. For more information please visit www.brennaninvestmentgroup.com.
About Gatehouse Bank
Gatehouse Bank operates as a Shariah-compliant wholesale investment bank based in the City of London, authorised and regulated by the UK Financial Services Authority, focusing on: Real Estate, Wealth Management, Treasury products and services and Shariah advisory services. For more information please visit our website www.gatehousebank.com.
About Arch Street Capital Advisors
Arch Street Capital Advisors, L.L.C. is a full service real estate investment advisory firm. Arch Street specializes in assisting international investors with their U.S. real estate strategies including acquisition and joint venture advisory, financing advisory and asset management and disposition services. Since 2003, Arch Street has advised clients on more than $4 billion of acquisitions, dispositions and financings. Currently Arch Street manages a diverse portfolio of investments on behalf of its clients in the industrial, office, multifamily, health care and residential condominium development sectors of the U.S. real estate market. For more information please visit www.archstreetcapital.com.
Brennan Investment Group, LLC
2340 River Rd
Des Plaines, IL 60018
Tel +1 847-813-6800
Fax +1 847-257-8888
SOURCE Brennan Investment Group, LLC
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