**New Mountain Capital Acquires $640M Net Lease Portfolio Across U.S., Canada, and Europe**
New Mountain Capital, LLC announced that funds managed by its affiliate, New Mountain Net Lease, have completed the acquisition of a 53-asset net lease portfolio for $640 million. This transaction marks the firm’s largest net lease acquisition since New Mountain Net Lease was established in 2016.
The majority of the portfolio is located in the United States, spanning 16 states, with additional assets situated in Canada, the United Kingdom, and Germany. Consisting of long-term net leases, the 53 assets are occupied by 11 institutional-grade tenants. The properties primarily include mission-critical manufacturing facilities that serve key industries such as food products and distribution, industrial machinery, supplies and components, as well as pharmaceuticals, biotechnology, and life sciences.
The acquisition was funded through capital from New Mountain Net Lease Partners II, L.P., which successfully closed in June 2023 with $825 million in equity commitments.
“We will continue to focus on mission-critical assets in defensive growth sectors, where we believe that we are well-positioned to pursue the most attractive opportunities in the net lease asset class,” said Teddy Kaplan, Managing Director and Head of New Mountain Net Lease.
