Michael W. Brennan Of Brennan Investment Group Purchases Lombard Industrial Portfolio From Rishi Kapoor For $76M

The transaction involved the sale of an industrial portfolio consisting of 17 buildings located in Lombard. The sale price amounted to $76,000,000, and the property covers a total of 740,000 square feet, which translates to a price per square foot of $103. The asset was 93% leased at the time of sale, indicating strong occupancy levels.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $76,000,000
• Buyer: Michael W. Brennan - Brennan Investment Group
• Seller: Rishi Kapoor - Investcorp
• Brokers: Bentley Smith, Joseph Horrigan, Judd Welliver, Michael Caprile, Ryan Bain, Victoria Gomez & Zachary Graham - CBRE
• Lender: Canadian Imperial Bank of Commerce
• Loan Amount: $55,000,000

This significant transaction was represented by a team of brokers from CBRE, showcasing their involvement in facilitating the deal. The buyer, Brennan Investment Group, recognized the value of the portfolio given its fundamentals in manufacturing, shipping, and warehousing, leading to the decision to secure financing and proceed with the purchase.