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Town Lane buys 23-property industrial outdoor storage portfolio with Axis
The deal covers mission-critical, infill IOS assets in Sunbelt hubs including Atlanta, Houston, Dallas, and Nashville.
Town Lane, a New York-based real estate investment management firm, has acquired a 23-property industrial outdoor storage, or IOS, portfolio in a transaction that also includes a new platform venture with Axis Partners, an Atlanta-based industrial owner and operator, according to ConnectCRE.
The agreement includes an investment by Town Lane into the Axis operating platform, though the terms of the deal were not disclosed.
The portfolio is described as mission-critical, infill IOS assets that support day-to-day operations for businesses such as contractors, equipment rental companies, distributors, infrastructure providers, and service businesses.
ConnectCRE reports that the properties are located in high-growth Sunbelt markets, including Atlanta, Houston, Dallas, and Nashville, and it quotes Town Lane managing director Garret Overlock saying the partnership pairs institutional capital with an experienced operator to build a long-term platform together.