BGO Industrial Real Estate Income Trust has recently acquired a 34.2% indirect ownership stake in a valuable portfolio of industrial assets located in the Midwest. The acquisition, known as the “Seed Portfolio,” is comprised of 29 modern industrial buildings spanning over 9.4 million square feet and situated in key cities such as Cincinnati, Kansas City, St. Louis, and Kenosha, Wisconsin.
These properties are currently leased to multiple tenants with an impressive occupancy rate of 90%, boasting an average remaining lease term of five years. According to Michael Glimcher – president, CEO and director at BGO IREIT – this strategic acquisition aligns with their goal of assembling state-of-the-art warehouse and logistics facilities that facilitate global supply chains for consumers.
The Seed Portfolio serves as a prime example of our approach towards constructing a diversified portfolio that caters to the evolving needs within the industrial real estate market.”
