AUSTIN—AIC Ventures has acquired two industrial buildings in Houston and Chattanooga, Tenn.

Austin-based AIC generally buys industrial facilities from users and then leases them back, freeing up capital for the seller, says the Austin Business Journal.

The latest purchase in Houston was a 94,000-square-foot building that was owned by Bluewater Thermal Solutions, which provides heat treatment services to the manufacturing industry. The Tennessee purchase was a 144,000-square-foot building that was owned by Burner Systems International Inc., which supplies components, assemblies and system solutions for the gas appliance industry.

Both companies now lease the buildings from AIC Ventures.

AIC Ventures has acquired 20 office and industrial buildings in the past 18 months. In 2012, the company raised its ninth fund and expects to make $275 million in acquisitions.

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