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Equus Spends $124M on NC Industrial Portfolio
Equus Capital Partners acquired a nine-building portfolio near Charlotte and Greensboro for $124 million through a sponsored value-add fund called Equus Investment Partnership XII LP. The nine buildings add up to 1.4 million square feet of space.
Commercial Edge reports the seller was Investcorp. Equus financed the purchase with a three-year, $75 million loan from Franklin BSP Realty Trust.
The portfolio comprises mostly single-tenant bulk distribution assets ranging from 38,480 to 382,668 square feet. At the time of the sale, the facilities were fully leased to nine tenants, including FedEx, Lenovo and American Woodmark.
In February 2022, the firm acquired eight industrial properties in Greensboro, N.C., through the same value-add fund. More recently, last June, Equus sold Carolina 85 Logistics Center (see photo), a speculatively built 300,468-square-foot warehouse/distribution facility in Kings Mountain, N.C., for $32.9 million.
Overall, the firm’s U.S. portfolio totals more than 30 million square feet of owned and managed industrial assets.
