Austin real estate fund buys 2 more properties before year-end

Dec 19, 2013
Austin Business Journal

AIC Ventures is ending the year with a couple of real estate deals. The Austin-based private real estate investment fund purchased properties in Burlington, N.J., and Independence, Ohio

The New Jersey property is a 186,000-square-foot industrial facility, which was purchased from Lynch Exhibits. Lynch, which will lease back the property, develops architecture and interactive media for exhibition and marketing purposes

“Lynch was interested in exploring an alternative capital source to pay down debt and reinvest funds into the growth of the company,” said Luis Medina, AIC’s managing director of acquisitions

The Ohio property is a 65,000-square-foot industrial facility that was owned by Avtron Aerospace, a division of CapitalWorks. The company develops test technology that supports aircraft manufacturers and related companies. The sale-leaseback was complex and needed to be completed quickly, according to an AIC statement

“We are very pleased to have been selected to be this partner and look forward to our continued relationship with Avtron and CapitalWorks,” Medina said

Print Article opens in new window