OVERTON MOORE PROPERTIES (OMP) ANNOUNCES $300 MILLION TO ACQUIRE CORE-PLUS INDUSTRIAL ASSETS IN CALIFORNIA

 LOS ANGELES, July 29, 2024 /PRNewswire/ -- OMP, one of the leading developers and operators of logistics properties in the Western US, is pleased to announce it has raised $150 million of equity capital to acquire existing industrial buildings in core markets throughout California. With leverage, this allocation provides $300 million of total acquisition capital to assemble a portfolio of well-located core industrial assets in the best markets in the West.

"For years, OMP has been a leading developer of state-of-the-art logistics properties throughout the West. This capital allows us to acquire existing core assets, currently at historically favorable pricing, in the best markets in California," says OMP CEO and Managing Partner, Timur Tecimer.

Pete Cassiano, OMP's Chief Investment Officer, adds, "While we remain committed to development, the regulatory and political environments in California continue to make development more challenging, particularly in in-fill markets. We believe this dynamic creates an excellent opportunity to expand our capabilities to acquire and manage core assets for cash flow and long-term appreciation."

OMP was founded in 1972 and is a premier, full-service, commercial real estate company focused on industrial properties throughout the western U.S. Based in Southern California, OMP has been one of the most active industrial developers and operators in the West with a logistics portfolio of over twenty million square feet across Southern and Northern California, Las Vegas, Phoenix and Salt Lake City.

Press Contact: Janine Walker
Overton Moore Properties
(310) 354 – 2465
[email protected]

SOURCE Overton Moore Properties