The Business Journal of the Greater Triad Area - July 12, 2010
Stag Capital Partners and GI Partners said Monday they plan to invest up to $200 million to acquire individual single-tenant net leased industrial properties throughout the United States.
Menlo Park-based GI concentrates on investments in asset-intensive middle-market businesses and properties in North America and Western Europe.
Boston-based Stag said the new venture will continue strategy to acquire and manage assets predominately located in secondary markets with purchase prices ranging from $5 million to $20 million.
Property types sought include warehouse, flex, and manufacturing buildings. STAG has used more than $1.2 billion of capital to acquire more than 200 properties since 2003.
GI Partners said it will invest in the venture through GI Partners Fund III L.P., which has $1.9 billion of capital commitments from leading institutional private equity and real estate investors.
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