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Partnership of Simi Capital, Cerberus Acquires LI Industrial
Simi Capital acquired a Long Island industrial property for $15 million in partnership with Cerberus Capital Management. Located at 80 Jericho Tpke. in Syosset, NY, the property is a six-acre site set to be utilized as an outdoor storage facility.
Andrew Skydell, founder of Simi Capital, said, “This most recent acquisition further exemplifies our proven business model. Seeing the record high demand and low vacancy rates in the country-wide industrial logistics market, we are consistently looking to acquire ideally located assets such as 80 Jericho Turnpike. We are confident in the prolonged growth of the Long Island market with its robust demand for last mile logistics facilities and a truly tethered supply.”
This is Simi’s second acquisition in the New York City metropolitan area within the past month. In a transaction executed in mid-October, also in partnership with Cerberus, Simi purchased a Staten Island outdoor storage facility for $19 million.
- ◦Sale/Acquisition
