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MAG Capital Partners sells 1.37 million sq ft net-leased industrial portfolio
The six-property portfolio, spanning industrial manufacturing sites across the Midwest, was sold for about $89 million to Starwood Property Trust’s subsidiary Fundamental Income Properties.
MAG Capital Partners has completed the sale of more than 1.37 million square feet of long-term, triple-net-lease industrial assets in a six-property transaction, according to ConnectCRE. The properties were primarily acquired through MAGCP Industrial Fund II, LP.
The buyer is Fundamental Income Properties, a wholly owned subsidiary of Starwood Property Trust. ConnectCRE said the sale price was approximately $89 million.
The portfolio consists of six industrial manufacturing properties across the Midwest. ConnectCRE also noted that John Dehn and Eric Wood, senior vice presidents from MAG’s Phoenix office, worked on the disposition for the seller.
MAG Capital Partners’ principal and co-founder, Dax T.S. Mitchell, said the transaction reflects the firm’s efforts to scale investment platforms focused on providing growth capital to U.S. manufacturers through industrial real estate and corporate investment.
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