VIENNA, VIRGINIA, September 20, 2019 – Jera Partners LLC (Jera Partners), a commercial real estate investment firm focused on the acquisition, management and disposition of properties that are net-leased to quality credit tenants, announced the acquisition of 27 industrial assets that are fully leased totaling approximately 3.3 million square feet for an aggregate price of $205 million. Jera Partners bought the properties in a joint venture with a fund managed by New York City based DRA Advisors (DRA). The portfolio is well diversified with 14 tenants, properties located in 15 states, and comprises a mix of warehouse, distribution, and manufacturing assets. It has a weighted average lease term of approximately 13 years with weighted average annual rent increases of approximately 2%.
“We are very excited to close our first industrial net lease portfolio with our joint venture partner DRA. We look to continue to grow our venture and are very active in the marketplace. We believe our collective industry knowledge and experience will allow us to deliver strong returns and these assets serve as the foundation for building a large diversified industrial net lease portfolio together,” said David Kay, Managing Partner of Jera Partners.
Matthew Shore, Chief Investment Officer of DRA Advisors said of the investment, “DRA is excited to partner with Jera Partners on this acquisition and seeks to grow our joint venture relationship. These assets are well located, supported by healthy credit with organic growth, and are a great fit for our long-term strategy of delivering strong current returns.”
About Jera Partners
Jera Partners is a commercial real estate investment firm focused on properties that are net-leased to quality credit tenants. With over 75 years of combined experience and $50 billion of real estate transactions completed among its principals, David Kay, Carrington Guy, and Michael Rebibo. Jera Partners is dedicated to identifying, executing and managing opportunities that create long-term value for its partners and investors through prudent investment, stewardship and service excellence. For more information, visit www.jerapartners.com.
About DRA Advisors
DRA Advisors is a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, foundations, and insurance companies. Since DRA was founded in 1986, the firm has acquired over $30 billion in assets, including 55 million square feet of office space, 75 million square feet of retail space, 57 million square feet of industrial properties, and 72,000 multi-family units. As of June 30, 2019, DRA has over $11 billion in assets under management. http://draadvisors.com