Austin investment fund buys N.C. facility

Dec 13, 2013
Austin Business Journal

Austin-based AIC Ventures purchased a large industrial facility in Monroe, N.C.

The private real estate fund manager focuses on large industrial type properties, which are purchased from users or other investors and then leased back to stable tenants on a long-term basis

In this case, AIC purchased the 120,000-square-foot facility occupied by Assa Abloy, an international producer of door opening solutions

The company has about 43,000 employees worldwide

In this case, the seller was an institutional client of Bentall Kennedy, a Canadian-based real estate advisor. That company was represented by Chris Riley, vice chairman of CBRE Group Inc. in Atlanta

“Combining decades of experience investing in the middle market sale-leaseback industry, the new AIC Ventures Income Fund allows us to invest in institutional quality properties and tenants, subject to existing leases,” said Luis Medina, managing director of acquisitions for AIC, in a written statement

AIC had several acquisitions in rapid succession earlier in the year

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