December 10, 2021 | Baltimore, MD/Minneapolis, MN — Alex. Brown Realty (ABR) and Biynah Industrial Partners, LLC (BIP) are pleased to announce the closing of a seven-building truck terminal and high flow through industrial portfolio located in Minneapolis, Indianapolis, Louisville, Des Moines, and the suburbs of Chicago. Financing was provided by a first loan facility from CIBC Bank. Matt Schoenfeldt of JLL arranged the financing for the portfolio.
The portfolio acquisition is part of a broader joint venture between ABR Chesapeake Fund VI, a value-added real estate fund sponsored by ABR, and BIP to acquire cross-docked truck terminals and high flow through industrial buildings nationally. At acquisition, the portfolio was 100% occupied. “We are very excited about the acquisition of this portfolio with ABR and their team. We have a large appetite for this product type nationwide and look forward to growing the portfolio exponentially in the near term,” said Jeff Josephs, Managing Partner at BIP.
“We expect these assets will provide a solid foundation as we continue to assemble the portfolio,” said Tom Burton, Senior Managing Director and CIO of ABR. “BIP is a long-term partner of ours with a successful track record. We are pleased to be partnering with them again,” added Burton.
Alex. Brown Realty (ABR) is an independent real estate investment manager specializing in value-add, opportunistic, and core-plus investments in the middle market. The firm was founded in 1972 by the partners of Alex. Brown & Sons, a Baltimore-based investment bank organized in 1800. Since the inception of the firm, ABR has acquired over $4 billion of assets, representing over 400 transactions. ABR has sponsored five real estate funds and is currently marketing its sixth fund. The firm is an SEC-registered investment advisor. www.abrealty.com
Biynah Industrial Partners, LLC (BIP) is a Minneapolis-based private equity firm that makes direct investments in industrial real estate located throughout the United States. www.biynahpartners.com
Biynah Industrial Partners
Alex. Brown Realty