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Brennan, Arch Street Team Up Again, Form Fifth JV To Acquire Industrial Properties

Venture Already Closed on Acquisitions Totaling 900,000 SF for Latest $300 Million
August 21, 2017
Arch Street Capital Advisors, a Greenwich, CT-based real estate investment advisory firm, has paired another of its investor clients with Chicago-based Brennan Investment Group to acquire, own and manage a portfolio of industrial properties throughout the US.

The latest joint venture, the duo's fifth, will focus on acquiring industrial property located in major markets that are deemed "critical facilities" to tenants under long-term leases.

The new venture reports it has acquisition funding for up to $300 million in deals. In addition, Goldman Sachs agreed to provide a financing line of credit facility that will allow the venture to quickly close on portfolio and individual asset purchases.

Michael Brennan, chairman and managing principal of Brennan Investment Group, said the new venture has already purchased several properties totaling nearly 900,000 square feet in Dallas, Charlotte and Green Bay.

For this go-round, it plans to target net-leased industrial properties with a remaining lease term of at least 10 years, non-investment grade credits and a tenant that has made a significant investment in the facility. Brennan will consider all industrial facility types for purchase, including manufacturing, assembly, R&D and distribution.

Over the past five years, Brennan and Arch Street have collectively acquired 77 properties comprising over 12 million square feet in the single-tenant, net lease sector, and Brennan said he continues to see opportunities to invest in mission critical facilities throughout the country.

"The United States industrial market is very strong, and will likely exhibit healthy fundamentals for a long time," he added.

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