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Chicago & Midwest  + Illinois  + Industrial  | 

Brennan, Sidra Form JV for $159M Industrial Portfolio Recapitalization

HFF arranged the $159.2 million recapitalization of a fully-leased, mission-critical 11-property industrial portfolio totaling 2.77 million square feet in seven states. The seller was a joint venture between Brennan Investment Group, Arch Street Capital Advisors, LLC and Gatehouse Financial Group Limited, and the buyer, a new JV between Brennan and Saudi Arabia-based Sidra Capital.

The portfolio, known as USIPA, comprises properties in markets in and around Atlanta, Chicago, Detroit, Minneapolis, Akron and Cincinnati, Philadelphia, and Dallas. The portfolio, which is situated on a total of 199.9 acres, is triple net leased to nine tenants and features single-tenant buildings ranging from 90,000 to 578,000 rentable square feet.

HFF’s Claudio Sgobba, Christopher Carroll, Robin Stolberg, Kurt Sarbaugh, Matthew Schoenfeldt and Jules Sherwood represented the seller. Additionally, working on behalf of the new owner, the HFF team secured and will be servicing a 67% LTV, 10-year, fixed-rate loan with Goldman Sachs.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition