CATEGORIES | Debt | Equity | Financial Advisory | Investments | Multifamily | Student Housing
FIDES Capital Partners, LLC ("FIDES") announces its first industrial acquisition and joint venture with a Chicago-based private equity partner. The acquisition included a vacant, single asset totaling 465,000 square with a total capitalization of over $10.0 million. The property is located in Columbus, Ohio. Read more here.
FIDES was responsible for sourcing, developing the asset plan, underwriting and financing the transaction. "This is a true value-add investment project," said Matt Gilbert of FIDES "in an environment where value-add investing is difficult to find due to the hot investment market. Investors are paying extremely aggressive prices for short-term leases and partial or full vacancies."
FIDES is confident the market will support a quick lease-up due to the lack of large blocks of comparable space. The Columbus industrial market is under 6.0% and the FIDES acquisition represents the only block of Class B space over 400,000 square feet. The property has recently been completely renovated including a new roof, ESFR sprinkler system and new lighting, in addition to its strong existing fundamentals, including 30 foot clear ceiling heights.
“Our clients have challenged us to unearth opportunities outside of our previous investment advisory emphasis on multifamily. Matt has a proven track record of acquiring and executing sound business plans on value-add industrial, office and retail. There is no shortage of capital seeking these assets and we are thrilled Matt has brought his creativity to FIDES.” says founding Principal, Gregory Longoria.