MCA Realty Industrial Fund Meets Target in Three Months
MCA Realty recently acquired three assets, one in Fife, WA and two in Las Vegas, for a total consideration of $16 million. The three assets were acquired through the firm’s fund, MCA Realty Industrial Growth Fund LP, which met its target of $50 million in equity commitments within just three months, according to Tyler Mattox, principal at MCA Realty.
MCA continues to be bullish in the industrial sector and these assets bring the fund to a total of eight properties. The acquisitions include two existing industrial properties and one vacant parcel where the firm plans to develop two single-tenant industrial buildings, Mattox adds.
“The demand for industrial space has grown significantly over the last year,” he says. “In a competitive environment, our experience and relationships in the sector enabled us to identify, source and deploy capital to acquire these assets.”
Mattox notes that industrial net absorption nationally totaled more than 120 million square feet in third quarter, a 135 percent increase in the same period last year.
- ◦Sale/Acquisition