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Adler Partners secures $343M to recapitalize industrial properties
Corebridge Financial is providing $203 million in senior financing, with Partners Group contributing $140 million in equity for the continuation vehicle.
Adler Partners, an owner and operator of U.S. industrial real estate, secured $343 million to recapitalize select assets in its fourth commercial real estate investment fund after closing its Adler Light Industrial Portfolio II (ALIP II) this month, according to Commercial Observer.
Commercial Observer reports that Corebridge Financial is supplying $203 million in senior financing, while Partners Group is providing $140 million in equity to fund the continuation vehicle.
Matthew Adler, founder and managing partner of Adler Partners, described the recapitalization as an important milestone and said the investors’ participation reflects the quality of the assets and the strength of Adler’s operating platform.
The firm said it has launched five investment funds since its 2012 inception, specializing in multi-tenant light industrial properties in core U.S. markets, managing 9 million square feet of industrial space and leasing to more than 900 tenants over that period.