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$13.8 Mil Industrial Portfolio Deal Includes Two Sacramento Properties

3/28/13

A private equity fund has acquired a portfolio of five industrial properties totaling 575k sf in the U.S., including two in Sacramento, in a sale-leaseback transaction with a value of $13.8 mil. The properties, also located in Virginia and South Carolina, were sold by American Forest Products (AFP).

Under the terms of the deal, AFP agreed to a lease term of 21 years as the single tenant within each property under an absolute net, master lease. A unique component of the transaction is the seller’s attractive buyback clause in year five, which gives it the necessary capital for growth today, coupled with ongoing control of all its sites.

AFP is a leading provider of third-party logistics and retail services, in conjunction with the sale of moulding and specialty millwork, into big-box retail and pro-dealer locations, such as Home Depot.

Camille Renshaw, CCIM, of Stan Johnson Company, who represented both parties in the transaction, noted, “Every detail of the sale-leaseback had to be specially managed to create a strong growth path for American Forest Products. Ultimately, the seller was able to pay off debt and expand its credit revolvers for immediate and expansive new business growth.”

The property addresses are as follows:

American Forest Products, Site I (Jarden Branded Consumables)
6000/6001 Power Inn Road & 8180/8141 Industrial Parkway
Sacramento, California 95824

American Forest Products, Site II (Building Surplus LLC, Cal Signs, American Wood Moulding, etc)
6015,6047,6073,& 6079 Power Inn Road
Sacramento, California 95824

American Forest Products, Site III (Sure-Wood)
370 Deer Valley Road
Chilhowie, Virginia 24319

American Forest Products, Site IV (Powell Valves)
1665 Joe Rogers Jr. Boulevard
Manning, South Carolina 29102

American Forest Products, Site V (SouthWoods- US Moulding)
1830 Greeleyville Highway
Manning, South Carolina 29102






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