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Newmark Completes AHF Products’ 1M-SF Sale-Leaseback
Newmark arranged the sale-leaseback of AHF Products’ five-property, 1.0-million-square-foot industrial portfolio comprising properties across the U.S. heartland. Buyer and sale price weren’t disclosed.
Chicago-based managing director Briggs Goldberg, vice chairman Andrew Sandquist and managing director JC Asensio, in cooperation with local licensees, represented the seller, a leading North American hard surface flooring manufacturer that fully occupies the properties in Tennessee, Arkansas, Missouri and Kentucky under long-term absolute net leases. Senior financial analyst Tyrell McGee provided support.
“Despite uncertainty in the marketplace and growing concerns of a recession, this portfolio garnered extensive interest from numerous institutional sale leaseback investors,” said Goldberg. Amid the turbulence of the past 90 days, “we maintained a competitive environment, which allowed us to hold the buyer to originally agreed upon terms.”
Driven by industry consolidation and investor demand for net leased industrial properties, AHF intends to use proceeds from the sale to fund future growth.
Pictured: AHF facility in Warren, AR. Photo courtesy of Newmark.
- ◦Sale/Acquisition
