The Koll Company and Seera Investment Bank Purchase 1 MSF Distribution Center in Phoenix for $74.75M
AUGUST 1, 2016
One of top 10 largest industrial acquisitions in the U.S. this year, according to Real Capital Analytics
Partnership between Koll and Seera Investment Bank B.S.C.(c)
Jones Lang La Salle represented buyer in sourcing debt
In one of the top 10 largest industrial transactions of the year, The Koll Company, and Seera Investment Bank B.S.C.(c), based in the Kingdom of Bahrain, acquired a 1,009,351-square-foot distribution center in Phoenix, Arizona for $74.75 million.
The massive warehouse, located within the Buckeye Logistics Center, is fully leased to a Fortune 50 international E-Commerce company, which uses the facility as a small package sorting and distribution facility.
Built in 2007, the facility at 6835 W. Buckeye Road initially totaled 604,678 square feet. Four years later, it was expanded by 404,673 sq. ft. to accommodate the tenant’s growth.
“We are pleased to add a fully-leased project with a world-renowned tenant to our growing portfolio, which provides superior cash returns,” said Gerald O. Yahr, Koll’s Managing Principal. “Our mission is to create long term value as well as near term returns for our investors, and this project will be a marquee asset as we continue to pursue other strategic investment opportunities throughout the Western United States.”
Koll has been active in the greater Phoenix market since the 1970’s and this property marks Koll’s most current acquisition in the market since 2008.
This was a partnership between The Koll Company and Seera Investment Bank B.S.C.(c), a private equity firm based in the Kingdom of Bahrain with investments across global markets. Seera was advised by CBRE Capital Advisors, Inc. Jones Lang Lasalle represented the seller in the sale transaction and the buyer in sourcing debt, which was provided by Benefit Street Partners.
About The Koll Company
The Koll Company, headquartered in Irvine, California, was founded by Donald Koll in 1962. The company was originally established as a regional general construction firm and rapidly grew into a leading real estate services company. Koll's track record includes the development of over 110 million square feet of office, industrial and retail space, and over forty years in the industry. Today the company is a well-capitalized full-service real estate operating company, which is operated by some of the most experienced and visionary managers in the industry. Further information on the company is available at www.koll.com.
About Seera
Incorporated in 2006 in the Kingdom of Bahrain, Seera Investment Bank B.S.C. (c) (Seera) is a Shari’a compliant Wholesale Bank licensed and regulated by the Central Bank of Bahrain. Seera provides investment banking products and services. Further information about Seera is available at www.seera.com.
About Benefit Street Partners
Established in 2008, BSP and affiliates manage over $11 billion in assets across a broad range of credit strategies including high yield, levered loans, private / opportunistic debt, liquid credit, structured credit and commercial real estate debt. BSP utilizes fundamental credit analysis, proprietary sourcing, due diligence, sophisticated structuring and comprehensive risk management across all the credit strategies it manages.
Media Contact:
Bill Rams | Cornerstone Communications
949-200-6107 | brams@cornerstonecomms.com