Capital Partners and Bahrain-based Investcorp have partnered to buy a portfolio of 17 industrial properties in Minnesota for $249M from the Artis REIT, one of the largest diversified REITs in Canada.

The assets, which are spread across the Twin Cities, encompass about 2.5M, according to a report in the Minneapolis/St. Paul Business Journal. The industrial properties are 95% occupied and located in submarkets with little available land for development.

The largest properties in the portfolio include the 406K SF Pilot Knob Distribution Center in Mendota Heights, MN; the 250K SF Energy Park Distribution Center in St. Paul; the 217K SF Penn-James Commerce Center in Bloomington, MN: and Berkshire Lane I and II, encompassing 209K SF in Plymouth, MN.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.