ST. LOUIS—ElmTree Net Lease Fund II, a St. Louis-based firm, has just acquired five single-tenant net lease investment properties for a total of $105.2 million. The industrial and office buildings are located across the US and currently occupied under, or have commitments for, 10- to 15-year lease agreements.

Three of the properties are build-to-suits, including a 306,406-square-foot, industrial facility in Lafayette, IN. Upon completion, General Electric Co. will lease the property, which sits on 53.47 acres, and use it to house its subsidiary GE Aviation. This will be its seventh aviation facility established in the US over the past seven years. It will operate a highly-advanced assembly line, GE officials say.

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