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4/23/21
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A venture between San Juan Capistrano-based Birtcher Anderson & Davis LLC and Belay Investment Group has recently closed on a $44.5 mil purchase of seven properties in greater Los Angeles and the Inland Empire.
The acquisition is comprised of 25 buildings totaling 351.4k sf and home to 133 tenants. The buyer’s business plan for the properties includes capital upgrades and an aggressive leasing program to address some current vacancy as well as to capture rising rental rates as a significant number of leases expire during the next 24 months.
The seller, a private family, was represented by CBRE. This represents the second investment for the venture since October 2020.
Belay Investment Group’s Senior Vice President of Investment, Jake Loughridge, commented, “The Southern California industrial portfolio represents a great opportunity for Belay to invest in multi-tenant industrial properties within one of the hottest industrial markets within the Country and expand our relationship with Birtcher Anderson & Davis.”
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