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NOYACK Capital Launches Logistics UPREIT
NOYACK Capital, based in Southampton, NY, has launched Noyack Logistics Income REIT (NLI), an UPREIT targeting logistics-relevant commercial real estate ownership. NLI will target four key asset classes: Mobility hubs (a newly defined property type that merges structured parking with amenities such as driverless car portals and charging, package lockers and grocery cold storage), cold storage warehousing, dry warehousing, and healthcare.
“Our focus on mobility hubs and other future-forward logistics infrastructure is driven by our point-of-view that these logistics assets are undervalued relative to the market maturity of ecommerce and that they offer asymmetric risk–reward potential,” said CJ Follini, managing partner.
NOYACK will seed the UPREIT with an estimated $30 million of its principal-owned industrial and parking assets, creating near-term dividend opportunities. Long-term plans call for investing in “approximately $500 million of future-forward logistics properties serving consumer and supply chain demands of the 2020s and beyond,” Follini said.
- ◦Sale/Acquisition
