ElmTree Buys 4 Sites; Hits $420M Value

ST. LOUIS—ElmTree Net Lease Fund II, LLC, recently acquired four significant properties from across the nation, bringing the total value of properties acquired or committed in 2014 to nearly $300 million. Together with properties acquired in 2013, the total value of the fund’s assets now stands at about $420 million. Officials from the St. Louis-based net lease investment fund say it also has three additional deals under contract and letters of intent on six more properties. 2015 also promises to be a good one for the fund, which is projected to grow to $900 million by mid-year.

ElmTree, which focuses on acquiring and operating single-tenant, office and industrial properties across the US, acquired its new properties in December. They include a 513,832-square-foot distribution facility in San Antonio, TX, currently occupied by Carrier; a 102,950-square-foot storage and distribution facility in Russellville, AL, occupied by Saint-Gobain ADFORS; a 38,900-square-foot medical building in Phoenix, AZ, which houses Adeptus Health, and a 226,000-square-foot flex building under construction in Grandview, MO, which the National Oceanic and Atmospheric Administration’s National Logistics Support Center and National Reconditioning Center will occupy upon completion later this year.