CHICAGO, ILLINOIS, April 9, 2020 – STREAM Capital Partners, LLC, a national net lease and sale-leaseback advisory group, recently arranged for the sale of a 200,000 square foot net leased industrial property in Elk Grove Village, Illinois.
The property is 100% occupied under a long-term absolute triple net lease by Material Sciences Corporation, a leading technology provider of metal solutions for acoustical, light-weighting and coil coated applications.
Adam English, Phil DiGennaro and Chelsea Mandel of STREAM Capital Partners represented the seller, a partnership between Jera Partners LLC and a Fund managed by DRA Advisors LLC, in the transaction.
The buyer was an undisclosed private group that raises money in Latin America and Spain to invest in properties in the United States.
English said of the transaction, “this was a great deal to get done in what has quickly become a challenging market. Everyone involved from buyer and seller to attorneys, vendors, mortgage brokers, etc. worked hard to get the deal over the finish line to closing.”
Said DiGennaro of the transaction, “we had great interest from a number of buyers due to the excellent location of the property and strong credit tenant; however, the Coronavirus situation definitely posed a unique challenge in terms of the lending market.”
Mandel added that “despite the temporary and unforeseen headwinds we are facing, we are long-term positive on industrial properties and the O’Hare submarket, where the property is located.”
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