NEW YORK, March 9, 2020 /PRNewswire/ -- Arch Street Capital Advisors ("Arch Street") and VEREIT are pleased to announce the acquisition of DHL Supply Chain's North American Headquarters located in Westerville, Ohio. The property, located within the recently developed Westar Place Business Park, is a brand-new, build-to-suit, 145,000 SF class A office building.
The acquisition is part of Arch Street and VEREIT's new programmatic venture focused on the acquisition of long term leased, single-tenant office assets (the "Partnership"). The Partnership has acquired approximately $120.8 million of assets to date, with an additional $49.8 million of assets identified for acquisition in early 2020. The Partnership is actively seeking new opportunities for acquisition.
The Partnership was formed with Arch Street's institutional client, Gatehouse Capital, K.S.C.C., Kuwait.
"We are pleased to announce another successful acquisition with our partners VEREIT and look forward to acquiring additional high-quality assets," stated Damian Taylor, Managing Director at Arch Street.
"We continue to search for high quality, mission-critical, long term leased assets as part of our platform, and are pleased with the successful closing of another high quality asset to enhance our portfolio," stated Thomas W. Roberts, Executive Vice President and Chief Investment Officer at VEREIT.
VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. The Company has total real estate investments of $14.9 billion including approximately 3,900 properties and 90.7 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties. VEREIT is a publicly traded Maryland corporation listed on the New York Stock Exchange. VEREIT uses, and intends to continue to use, its Investor Relations website, which can be found at www.vereit.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about VEREIT can be found through social media platforms such as Twitter and LinkedIn.
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 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 $7.5 billion of acquisitions, dispositions and financings. Arch Street manages, on behalf of its clients, a diverse portfolio of investments across multiple sectors of the U.S. real estate market. Learn more about Arch Street Capital Advisors by visiting www.archstreetcapital.com.
SOURCE Arch Street Capital Advisors, LLC.