CBRE has arranged the sale and recapitalization of an 11-building, 1,389,949-square-foot industrial portfolio in the suburbs of Minneapolis. The transaction on behalf of Onward Investors closed for $143 million.
Onward Investors was represented by CBRE’s Michael Caprile, Judd Welliver, Ryan Bain, Zachary Graham and Bentley Smith.
“This was a very notable transaction for Onward and the Minneapolis market,” said Welliver. “Onward had aggregated a high-quality industrial portfolio that provided an opportunity to recapitalize out their existing partners while providing Onward with a new capital source to continue their growth in the industrial sector both locally, regionally, and nationally. It was a great outcome for everyone involved.”
He continued, “This offering presented the opportunity to purchase a critical mass of functional and diverse industrial real estate in mature infill submarkets throughout Minneapolis with a high-quality sponsor in Onward.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).