Realterm Acquires 13 Industrial Outdoor Storage Properties Across U.S. Markets For $277M
$277,000,000
$438/SF
Building Size
632,000 SF
Asset Type
Industrial
Closing
Jan 9, 2025
AI
Realterm acquired an industrial portfolio consisting of 13 outdoor storage properties spread across key U.S. markets including Chicago, IL; Dallas-Fort Worth, TX; Northern New Jersey; Inland Empire & CA; Orlando, FL; Seattle; and the Bay Area. The total acquisition price for the portfolio was $277,000,000, with a total square footage of 632,000 and a price per square foot of $438. The properties cover an area of 131 acres.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $277,000,000
- Buyer: Bob Fordi & Ben Andreycak - Realterm
- Seller: Bruce Flatt & Devin Barnwell - Brookfield
- Advisory Firm: Eastdil Secured
This transaction reflects a significant move by Realterm, demonstrating strong institutional interest in high-demand industrial outdoor storage assets. The deal was conducted through a Brookfield real estate fund and closed on December 27, 2024, with the advisory from Eastdil Secured supporting Brookfield throughout the process.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93