Brennan And Arch Street Acquire Four-Building, 2.3 Million Square Foot Industrial Portfolio

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Feb 12, 2018, 06:00 ET

CHICAGO, Feb. 12, 2018 /PRNewswire/ -- Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced its purchase and simultaneous leaseback of four buildings to BlueLinx Corporation (NYSE: BXC) in a joint venture with a client of Arch Street Capital Advisors, LLC. The portfolio, located in four states and totaling 2,306,835 square feet, is geographically dispersed throughout several top markets in the United States including Boston, Raleigh-Durham, Atlanta, and Washington, D.C. BlueLinx is a leading distributor of building and industrial products in the United States and operates through a broad network of distribution centers. Since 2011, through multiple ventures, Brennan and Arch Street have acquired over $1 billion of single tenant, net leased, industrial assets.

"We acquired four strategically important facilities of BlueLinx, an established tenant with long-term commitment to the areas," said Scott McKibben, Chief Investment Officer at Brennan Investment Group. "This acquisition is consistent with our investment objective of producing stable, long-term cash flow for our investors."

"Over the past seven years, Arch Street and Brennan have been very active investors in the single tenant, net leased, industrial space and have developed an expertise for originating, evaluating, acquiring and financing single tenant, net leased, industrial assets," said Anup Patel, President and Chief Investment Officer at Arch Street Capital.

"We are pleased to acquire another net leased industrial portfolio with Arch Street. This acquisition demonstrates the breadth and depth of our net lease platform. We have the ability to both acquire large portfolios as well as aggregate individual long-term net lease assets," said Robert Vanecko, Brennan Investment Group's Managing Principal and the head of the firm's single-tenant, net lease division. "We are excited to add these properties to our growing portfolio. We have a strong appetite for additional properties that meet our criteria."

Brennan and Arch Street continue to seek single tenant, net leased industrial investments meeting the following criteria:

(i)    location in the top 100 U.S. markets,
(ii)   remaining lease term of at least ten years,
(iii)  non-investment grade credits,
(iv)  "mission critical" properties with significant facility investment by the tenant, and
(v)   all industrial facility types, including manufacturing, assembly, R&D and distribution.

About Brennan Investment Group

Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $3 billion in industrial real estate. The company's current portfolio spans 27 states and encompasses over 35 million square feet.

Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm's management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.

For more information on Brennan Investment Group, go to brennanllc.com.

About Arch Street Capital Advisors

Arch Street Capital Advisors, LLC is a full service real estate investment and advisory firm formed in 2003. The firm specializes in advising international investors on their U.S. real estate strategies and has advised clients on more than $6.5 billion of transactions. Arch Street actively manages a diverse portfolio of investments on behalf of our clients spanning multiple real estate sectors and risk-return profiles. Arch Street has significant experience in the office, multi-family, industrial, retail, hospitality, student housing, healthcare, single-family residential, land entitlement, and development sectors.

For more information please visit www.archstreetcapital.com.

Contact: Sarah Brennan, [email protected]

SOURCE Brennan Investment Group