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Brennan and Arch Street Form Fifth Joint Venture to Acquire Industrial Properties

- Venture closes on two acquisitions in its new JV, totaling 900,000 square feet and has $300,000,000 in purchasing capacity

Chicago, August 21, 2017

Brennan Investment Group (“Brennan”), a U.S. based real estate firm, and a client of Arch Street Capital Advisors, LLC (“Arch Street”), a Greenwich, Connecticut based real estate investment advisory firm, have announced the formation of a fifth joint venture to acquire, own and manage a substantial portfolio of industrial properties throughout the United States. The venture will focus on acquiring individual industrial assets in major markets in the United States that are critical facilities to tenants and leased on a long-term basis. In conjunction with the formation of the Brennan/Arch Street venture, Goldman Sachs provided the venture with a financing line of credit facility to enhance the venture’s efficiency in closing both portfolio and individual asset purchases.

The new venture has already purchased nearly 900,000 square feet of industrial real estate in Dallas, Charlotte, and Green Bay.

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. The venture seeks to build on the partners’ prior success in the sector.

“We are excited to launch this venture at a time when we see opportunities to invest in mission critical facilities throughout the country,” said Michael Brennan, Chairman and Managing Principal of Brennan Investment Group. “The United States industrial market is very strong, and will likely exhibit healthy fundamentals for a long time.”

Anup Patel, President and Chief Investment Officer of Arch Street Capital Advisors, commented “We look forward to continuing our long-standing partnership with Brennan Investment Group, and establishing our fifth platform that will strategically acquire net-leased mission critical industrial assets.”

Brennan and Arch Street continue to seek net leased industrial investments meeting the following criteria:

  • location in the top 100 U.S. markets,
  • remaining lease term of at least 10 years,
  • non-investment grade credits,
  • significant facility investment by the tenant, and
  • all industrial facility types, including manufacturing, assembly, R&D and distribution.