Minneapolis, MN, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Nicola Wealth Real Estate (NWRE) has acquired the Minneapolis Industrial Infill Portfolio. This transaction, brokered by Mark Kolsrud and his team at Colliers, expands NWRE’s growing industrial portfolio with the firm’s entry into Minneapolis/St. Paul.
The acquisition, comprised of the Minneapolis North Sub-Portfolio and the Dell 5 Sub-Portfolio, is a collection of 22 well-located industrial and flex-industrial buildings totaling 1,915,637 sf on 151 acres of land. The multi-tenant portfolio is geographically diverse in the Minneapolis/St. Paul market which boasts a low vacancy rate of 3.6% (as of Q2 2021) on an existing inventory of approximately 374 million square feet.
“We are excited to expand our US industrial footprint in an established and stable market such as Minneapolis,” says Matthew Schaeffers, Director of Acquisitions at Nicola Wealth Real Estate. “This acquisition presents an opportunity to add a diversified portfolio in a low vacancy environment that offers attractive risk-adjusted returns. These assets provide immediate scale complementary to our overall cluster strategy in established and promising markets.”
NWRE continues to concentrate its growth in major US markets such as Las Vegas, Phoenix, Seattle, Denver, San Francisco, and now Minneapolis with a focus on acquiring income-producing properties and executing development and value-add strategies.
To learn more about the Nicola Wealth Real Estate funds, visit realestate.nicolawealth.com
About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with $10.7 billion (CAD) of assets under management (AUM). NWRE has an experienced and innovative team that sources and asset-manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. With the acquisition of Blackwood Partners, the current NWRE portfolio now exceeds $6 billion gross asset value.
Attachment
