Edina-based Capital Partners has partnered with Bahrain-based alternative investment firm Investcorp to purchase 16 properties across the Twin Cities for $249 million. Minneapolis/St.paul business journal report.
The seller is Winnipeg, Manitoba-based Artis REIT, which brought in about $148 million, the outlet reports.
Spanning 2.5 million square feet and approximately 95% occupied, these properties bring Capital Partners’ real estate holdings to a total of 13.5 million square feet.
Capital Partners managing partner Jason Shimek said the purchase was attractive because many of the properties are in congested Class A submarkets with little developable land. , is the second-largest real estate purchase in the Minneapolis-St.
The seller, Winnipeg, Manitoba-based Artis REIT, has made approximately $148 million on the sale of the property, which is approximately 95% occupied.
The contract includes:
- The 120,000-square-foot Parkside Industrial Center at 7300 North 49th Street in New Hope
- 130,500 sf Aurora Industrial Warehouse at 2500 Walnut Street, Roseville
- 209,000 sq ft Berkshire Lane I & II at 800-1000 Berkshire Lane, Plymouth
- 103,500 square foot Bush Lake Road Industrial Center in Edina
- 50,500 sq ft Mendota Heights Gateway Commons on Waters Drive
- The 217,500-square-foot Pen James Commerce Center in Bloomington
- Plymouth’s 112,500-square-foot 12th Street Distribution Center
- 250,000 sq. ft. Energy Park Distribution Center in St. Paul
- 113,000 sq ft industrial estate business center in Plymouth
- 168,000 sq ft and 170,000 sq ft Mid-City Business Center South in Minneapolis
- The 406,000-square-foot Pilot Knob Distribution Center in Mendota Heights
- 68,000 sq ft Crosstown North II and 73,000 sq ft Crosstown North VI in Brooklyn Park
- 84,000-square-foot Plymouth Corporate Campus
- 106,500 sq ft Tech West in Plymouth and Home Depot store in Litchfield
— Victoria Pruitt