ST. LOUIS—ElmTree Funds, which was launched inSt. Louis in 2011, recently closed on ElmTree Net LeaseFund II, its sixth net lease private equity fund, and itjust completed the acquisition of five single-tenant net leaseinvestment properties, totaling $90.3 million. All of theproperties are either currently occupied under, or have commitmentsfor, 10- to 15-year lease agreements.
As reported in GlobeSt.com, ElmTree typically invests in single tenant, investment-grade netlease real estate assets, sale leasebacks, andbuild-to suits with tenant lease terms of 10 to 15 years. Companyofficials say ElmTree Net Lease Fund II will eventually acquire abillion dollars of net lease assets.
Among the acquisitions is a 34.4-acre industrial property inFort Wayne, IN. BAE Systems Controls, a subsidiaryof BAE Systems plc, will lease the property anduse it as a light assembly and warehousing facility. Thebuild-to-suit project will consist of the development andconstruction of an approximately 333,750-square-foot manufacturingbuilding. BAE Systems has operated in Fort Wayne since themid-1980s. The company will use the plant, scheduled to becompleted in late 2015, to build electronic controls for aircraftengines.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
