Transwestern Divests 3.5M-SF MW Industrial Portfolio for $179M

Toronto-based Dream Industrial REIT acquired a 3.5-million-square-foot industrial portfolio in five cities across the Midwest from Transwestern Investment Group (TIG) for $179.1 million, representing a going-in cap rate of 6%. The 21 logistics facilities are located in Illinois, Ohio, Indiana and Kentucky.

The portfolio includes four buildings in Chicago, two buildings in Cincinnati, 12 buildings in Columbus, OH, two buildings in Indianapolis, and one building in Louisville. TIG added significant value to the 91%-occupied portfolio by completing capital improvements, increasing the weighted average lease term, and raising the net operating income by nearly 20% during its ownership. The portfolio encompasses small bay to large distribution facilities, and includes single-tenant and multi-tenant buildings.

Cushman & Wakefield’s James Carpenter, Adam Tyler and Mike Tenteris provided disposition services.

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Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Transwestern Divests 3.5M-SF MW Industrial Portfolio for $179M

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Transwestern Divests 3.5M-SF MW Industrial Portfolio for $179M

Inside The Story

About Dennis Kaiser