Equus Capital Partners recently acquired a nine-building industrial portfolio in the Charlotte and Greensboro areas for $124 million. The purchase was made through their sponsored value-add fund, Equus Investment Partnership XII LP.
The portfolio consists of 1.4 million square feet of space and was previously owned by Investcorp. Equus secured financing for the acquisition with a three-year, $75 million loan from Franklin BSP Realty Trust.
The buildings within the portfolio are primarily single-tenant bulk distribution assets ranging from 38,480 to 382,668 square feet. All nine facilities were fully leased at the time of sale to tenants such as FedEx, Lenovo, and American Woodmark.
This is not Equus’ first investment in North Carolina’s industrial market – they also acquired eight properties in Greensboro earlier this year through their value-add fund. In addition to these recent acquisitions, last June saw them sell Carolina 85 Logistics Center for $32.9 million after developing it as a speculatively built warehouse/distribution facility in Kings Mountain.
Overall, Equus has amassed over 30 million square feet of owned and managed industrial assets across various locations throughout the United States.
