Clear Height Properties has completed a 15-property, $55-million-plus recapitalization through the formation of a joint venture partnership with Harbert U.S. Real Estate, an investment strategy sponsored by Harbert Management Corporation. The transaction marks HMC’s entry into Chicago industrial, and provides Clear Height with capital toward doubling its portfolio size in 12 months.
“This is another important milestone in the growth and expansion of Clear Height Properties,” said Gary Rose, Clear Height COO. “It both validates the founding principles of the firm and paves the way for greater opportunity to develop our platform for the benefit of our partners, investors and team members.”
The 15 assets total more than 1,000,000 square feet with more than 130 tenants. They’re located throughout the Chicago metro area and typically are multi-tenant facilities averaging 90% occupancy.
A JLL industrial capital markets team of John Huguenard, Robin Stolberg and Kurt Sarbaugh completed the transaction.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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