Arch Street/Brennan Partnership Exits 2M-SF Net Lease Portfolio
A partnership of Arch Street Capital Advisors and Brennan Investment Group completed the culminating sales of an 11-asset portfolio spanning more than 2.0 million square feet of net lease industrial and office properties. Financial terms weren’t disclosed.
The portfolio, a joint venture between Arch and Brennan, was acquired via a single transaction in 2017 and included assets that lacked uniformity across the Midwest, Northeast and Southeast regions of the U.S. The business plan included a tailored leasing strategy for each property before opportunistically selling the assets individually and in small pairings.
“The success of this portfolio demonstrates the unique benefits of this strategy which provides both residual upside and consistent yield.” said Christopher Collins, VP of asset management at Arch Street Capital Advisors. “We continue to remain bullish on warehouse, distribution and manufacturing assets in both the U.S. and Europe.”
At Brennan Investment Group, managing principal Robert Vanecko added, “The success of this investment demonstrates the strength of Brennan’s value-add operating platform. We will continue to focus on buying single tenant net leased (STNL) assets and/or portfolios and will even consider non-homogenous portfolios, as was the case with the subject transaction.”
The portfolio’s conclusion represents the seventh successful exit for the Arch-Brennan relationship.