Four Springs Capital Trust Announces Significant Industrial Acquisition Activity
LAKE COMO, N.J.–(BUSINESS WIRE)–Four Springs Capital Trust (FSCT), a real estate investment trust that owns and operates a diversified portfolio of industrial, medical and retail properties net leased to investment grade and other creditworthy tenants under long-term leases, announced today that is has acquired or is under contract to acquire eight industrial properties valued at approximately $183 million. The acquisitions include five build-to-suit opportunities and three sale-leaseback and existing assets.
The acquisitions include two last mile distribution facilities leased to a leading e-commerce company, and six other industrial properties including cold storage/food distribution, light manufacturing and bulk distribution properties in strong target markets leased to creditworthy tenants.
“While distribution facilities have always played an important role in a company’s logistics supply chain, e-commerce and the effects of COVID-19 on consumer behavior have increased demand for industrial real estate,” said William Dioguardi, Chief Executive Officer of FSCT. “These eight properties underscore the continued diversified investment strategy for our portfolio.”
FSCT recently completed a $150 million institutional financing from Goldman Sachs Asset Management and Magnetar Capital to continue building the REIT’s portfolio as well as to provide property inventory to its Four Springs TEN31 Xchange subsidiary.
“We see opportunities for dramatic growth in 2021,” said Jared Morgan, Head of Acquisitions for FSCT. “We are active buyers of institutional-quality net lease properties in the industrial and healthcare sectors, and we’ll continue to grow our assets under management throughout the course of the year.”
About Four Springs Capital Trust:
Four Springs Capital Trust is a private real estate investment trust that owns and operates a diversified portfolio of industrial, healthcare and necessity retail properties net leased to investment grade and other creditworthy tenants under long-term leases.
Contacts
Four Springs Capital Markets
Eric Paul – epaul@fscap.net or (732) 749-7330