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SEGUIN, TX-ElmTree Net Lease Fund II has added a 300,000-square-foot industrial facility to its portfolio, paying $22.6 million in the process. The St. Louis buyer now owns a brand-new third-party logistics facility in this San Antonio suburb, which is leased to Caterpillar Inc.’s third-party logistics provider FCA LLC through a 10-year deal.

The just-completed facility is situated on 27 acres near Caterpillar’s primary engine assembly operations on Kingsbury St. According to Joseph C. Yiu, chief investment officer and managing principal of ElmTree Funds LLC, the appeal of the property involved upside and the fact that it’s a mission-critical property for Caterpillar.

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