Nicola Wealth Real Estate enters a new market with the acquisition of a large industrial portfolio in Minneapolis / St. Paul
The portfolio includes nearly 2 million square feet of industrial and flexible products on 22 properties and 151 acres scattered throughout Minneapolis / St. Paul Market
Minneapolis, MN, September 23, 2021 (GLOBE NEWSWIRE) – Nicola Wealth Real Estate (NWRE) has acquired the Minneapolis Industrial Infill Portfolio. This transaction, negotiated by Mark Kolsrud and his team at Colliers, expands NWRE’s growing industrial portfolio with the company’s entry into Minneapolis / St. Paul.
The acquisition, comprised of the Minneapolis North sub-portfolio and the Dell 5 sub-portfolio, is a complex of 22 well-located industrial and flex-industrial buildings totaling 1,915,637 square feet on 151 acres of land. The multi-tenant portfolio is geographically diverse in the Minneapolis / St. Marché Paul which posts a low vacancy rate of 3.6% (in Q2 2021) on an existing inventory of approximately 374 million square feet.
“We are delighted to expand our industrial presence in the United States in an established and stable market like Minneapolis,” said Matthew Schaeffers, director of acquisitions at Nicola Wealth Real Estate. “This acquisition presents an opportunity to add a diversified portfolio in a low vacancy environment that offers attractive risk-adjusted returns. These strengths offer immediate scope that complements our global cluster strategy in established and promising markets. “
NWRE continues to focus its growth on core US markets such as Las Vegas, Phoenix, Seattle, Denver, San Francisco and now Minneapolis with a focus on the acquisition of lucrative properties and the execution of development and value strategies added.
To learn more about Nicola Wealth Real Estate funds, visit real estate.nicolawealth.com
About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a leading Canadian financial planning and investment firm with $ 10.7 billion (CAD) in assets under management (AUM). NWRE has an experienced and innovative team that researches and manages the assets of a growing portfolio of properties in major North American markets, covering a diverse range of asset classes including industrial apartments, rental apartments multi-family, offices, self-storage spaces, retail and senior citizens. lodging. With the acquisition of Blackwood Partners, NWRE’s current portfolio now exceeds gross asset value by $ 6 billion.
CONTACT: Victoria Emslie Nicola Wealth 604-484-1286 [email protected]