Investor SomeraRoad has entered the industrial market with the purchase of an 8-property portfolio for $137 million. The portfolio is part of SomeraRoad's new net lease income-producing real estate investment platform. The new investment vertical has buying power of up to $600 over the coming years.

The 8-property portfolio totals 1.5 million square feet, and each property is fully leased to a diverse tenant base, including ABB Ltd., Unison Industries, Fed Ex, Café Valley, McFarling Foods, and Black Gold Farms. More than 50% of the current cash flow comes from investment-grade credit.

To complete the purchase, SomeraRoad secured a $91 million acquisition loan through Capital One. Newmark's vice chairmen and co-heads of the New York debt and structured finance group Dustin Stolly and Jordan Roeschlaub secured the acquisition loan on behalf of SomeraRoad.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.