MCA’s Five-Property Acquisition Meets Equity Commitment

MCA Realty recently acquired five assets: two in Washington, two in Las Vegas and one in Orange, CA, for a total consideration of slightly more than $71 million. The five properties were acquired through the firm’s first fund, MCA Realty Industrial Growth Fund LP, which met its target of $50 million in equity commitments within three months earlier this year.

This resulted in approximately $130 million in acquisition capability, according to Tyler Mattox, principal at MCA Realty.

“Due to our long-established track record within the multi-tenant industrial space, we were able to identify, source and deploy capital to acquire these assets relatively quickly after meeting the $50 million target for the first fund in July,” says Mattox. “Drawing upon our experience in the sector, we will implement upgrades and improve operational efficiencies to enhance the properties, creating long-term value and capitalizing on high demand.”

The Washington State asset is a 136,350-square-foot multi-tenant industrial asset in the Puget Sound metro of Lakewood, WA. Lakewood Business Center, acquired for $18.2 million, was the firm’s first acquisition in Washington and was also the first within its fund, according to Mattox.