Ocean West Sells 7-Property Industrial Portfolio for Nearly $1B
El Segundo-based Ocean West Capital Partners and South Korea-based Tiger Alternative Investors have announced the sale of a seven-property logistics portfolio for over $900 million. The properties, located throughout the Sunbelt and Northeast, total over 7 million square feet and are net leased to nationally recognized tenants. The buyer was Florida-based Ponte Gadea.
“We are very pleased to announce the successful closing of this portfolio, which has performed well for our investors,” said Russ Allegrette, Principal of Ocean West. “When we acquired these buildings, we focused on assets in top-performing logistics markets with credit tenants and long-term leases in place. Together with Tiger, we continuously explored ways to add value through active asset management and successful lease negotiation.”
Ocean West and Tiger were represented by K&L Gates in the transaction, while the buyer was represented by Alvarez | Diaz-Silveira LLP.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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