Tempus Realty Partners Announces the Sale of $20.3 Million Industrial Portfolio, Exceeding Projections

LITTLE ROCK, Ark., Dec. 9, 2024 /PRNewswire/ -- Tempus Realty Partners, a premier Arkansas-based real estate investment partnership, is pleased to announce the successful completion of its two-property industrial investment, with sales totaling $20.3 million. The portfolio includes two sale-leaseback properties spanning 191,678 square feet and 23.05 acres.

Both industrial properties, strategically located in metro Detroit markets, were leased to American Expedition Vehicles (AEV), a leader in off-road vehicle innovation. The sale of this portfolio exceeded underwriting projections, underscoring Tempus' ability to deliver profitable investments despite rising interest rates.

"We are proud to celebrate the successful disposition of this industrial portfolio, which not only outperformed our financial expectations but did so in the face of notable industry headwinds," said Dan Andrews, CEO of Tempus Realty Partners. "This is a great example of how quality properties occupied by solid companies make great investments in a variety of investment environments."

The first property in the portfolio was sold in September 2022 to Tempus Evergreen, a private real estate fund, for $14.4 million, and the final property has now been sold and acquired by a third party for $5.9 million. This marks the tenth fully completed investment offering by Tempus.

ABOUT TEMPUS REALTY PARTNERS
Tempus Realty Partners is an investor-centric real estate investment partnership focused on acquiring and developing commercial real estate mainly in the South and Midwest. The strategy of Tempus is to create superior risk-adjusted returns via unique commercial real estate opportunities by investing with its network of partners in targeted cities. Tempus has acquired more than $1 billion of property in 25 states since forming in 2016.

SOURCE Tempus Realty