MAG Capital Partners has completed the sale of more than 1.37 million square feet of long-term, net-leased industrial assets primarily acquired through its MAGCP Industrial Fund II, LP, in a six-property transaction with Fundamental Income Properties, a wholly owned subsidiary of Starwood Property Trust. The sale price was approximately $89 million.
Dax T.S. Mitchell, principal and co-founder of MAG Capital Partners, said, “MAG Capital Partners continues to scale its various platforms, all focused on supporting U.S. manufacturers with growth capital needs through industrial real estate and corporate investment. This transaction is a testament to the strength and quality of the middle market, incredible operators, sponsors and the important role of manufacturing as a powerful American economic driver. The future is bright for net lease industrial.”
The triple-net-lease portfolio consists of six industrial manufacturing properties across the Midwest. John Dehn and Eric Wood, SVs of MAG’s Phoenix office, worked on the disposition for the seller.
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