$127.5 million office and industrial portfolio changes hands
St. Louis-based ElmTree Funds recently closed the sale of six real estate assets totaling more than $127.5 million.
ElmTree, which is focused on the acquisition and operation of single-tenant, office, industrial and healthcare properties across the United States, closed on the deal to sell the properties to IRA Capital Advisors on June 26. The recently sold properties include healthcare, industrial and office facilities across the Midwestern, Southeastern and Northeastern areas of the United States.
All six properties are currently 100 -ercent occupied and have commitments for long-term lease agreements ranging from five to 20 years.
Three of the properties are industrial facilities. These include a facility in Florence, Kentucky, where the guarantor is Smithfield, Inc.
Two of the assets included in the sale are office buildings, one of which is located in Novi, Michigan.