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ATLANTA—Plymouth Industrial REIT has acquired a five-building,924,036-square-foot industrial portfolio in Atlanta and Savannahfor $34.7 million. The acquisition, which is projected to providean initial yield of 7.6%, was funded with borrowings under thecompany's credit facilities.
Pendleton White Jr., Plymouth's president and chief investmentofficer, tells GlobeSt.com that the buildings mainly housedistribution operations with some light manufacturing. The largesttenant is the Balta Group, a Belgian producer of carpets andrugs.
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