ST. LOUIS--(BUSINESS WIRE)--ElmTree Funds, LLC (“ElmTree”), a St. Louis-based real estate private equity firm, is pleased to announce that it has acquired, or currently have under contract, ten net-lease properties totaling ~$570 million since May 2019 and that it expects to purchase an additional ~$900 million of properties in 2020.
The net-lease office and industrial properties that ElmTree has acquired and is targeting are located in fundamentally strong markets across the United States and are leased primarily to investment-grade tenants on a long-term basis.
Most recently, ElmTree has acquired six industrial facilities and one office building located throughout Illinois, Indiana, Kansas, Massachusetts, Missouri, and Ohio. These assets comprise over 2.2 million square feet, represent a weighted average credit rating of BBB+, and have an average remaining lease term of 12 years. Four of the buildings are either newly constructed or build-to-suit projects. The remaining three properties currently under final due diligence are in Illinois, Kansas, and Ohio, and are comprised of an additional 1.7 million square feet with a weight average credit rating of BBB-, and an average remaining lease term of 14 years.
“We believe these deals are ideal transactions for ElmTree as the properties are primarily located in cities with strong market fundamentals and primarily leased to tenants with investment-grade credit for 12+ years,” said ElmTree CEO & Founder Jim Koman. “Our investment activity over the last five months represents only a small portion of our robust institutional build-to-suit pipeline, of which, we are excited to execute on as we transition into 2020.”
About ElmTree Funds:
ElmTree Funds, LLC is a real estate private equity firm and seasoned fund manager to institutional and private investors. ElmTree’s investment philosophy focuses on creating attractive risk-adjusted returns for its investors in the commercial real estate net lease, sale-leaseback, and build-to-suit sectors. Since its founding in 2011, ElmTree Funds has acquired, developed or financed more than $6 billion of office and industrial properties. ElmTree Funds targets investments in select 50 markets across the United States that are leased to investment grade tenants on a long-term basis. ElmTree Funds is headquartered in St. Louis, Missouri. For more information please visit www.elmtreefunds.com.