{"id":1004114608,"date":"2015-03-02T15:20:05","date_gmt":"2015-03-02T23:20:05","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=329436"},"modified":"2025-02-19T00:19:48","modified_gmt":"2025-02-19T08:19:48","slug":"wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\/","title":{"rendered":"WPT Industrial REIT Enters Memphis\u2019s Industrial Market with $86.25M Purchase"},"content":{"rendered":"<p><em>By Liviu Oltean, Associate Editor<\/em><\/p>\n<p>WPT Industrial Real Estate Investment Trust just made a big splash in Memphis. The Toronto-based\u00a0company recently acquired an industrial portfolio consisting of six distribution facilities for $86.25 million.<\/p>\n<p>Totaling more than 2.3 million square feet, the six facilities are:<\/p>\n<ul>\n<li>Eastpark I\u2014 cross-dock distribution facility; 888,262 square feet; 100 percent leased.<\/li>\n<li>Eastpark II\u2014c ross-dock distribution facility; 338,000 square feet; 100 percent leased.<\/li>\n<li>Chickasaw A\u2014rear-load distribution facility; 108,250 square feet; 100 percent leased.<\/li>\n<li>Chickasaw H\u2014rear-load distribution facility; 283, 756 square feet; 100 percent leased.<\/li>\n<li>Southpoint IV\u2014side\/rear-load distribution facility; 60,000 square feet; 100 percent leased<\/li>\n<li>Southpoint XIX\u2014cross-dock distribution facility; 684, 750 square feet; 100 percent leased.<\/li>\n<\/ul>\n<p>The deal was partially financed through the net proceeds of the REIT\u2019s completed bought-deal offering of Trust Units and through a new $51.75 million property-level mortgage debt with an interest rate of 2.87 percent.<\/p>\n<div id=\"attachment_329439\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Eastpark-II.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-329439\" title=\"Eastpark II\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Eastpark-II.jpg\" alt=\"\" width=\"300\" height=\"193\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Eastpark II<\/p>\n<\/div>\n<p>\u201cThis acquisition marks our entry into the Memphis market and further strengthens and diversifies the REIT\u2019s overall property portfolio,\u201d said Scott Frederiksen, WPT Industrial&#8217;s CEO, in a statement. \u201cThese six class A, institutional-quality distribution facilities are modern, highly-functional buildings, and the Memphis industrial market is one of the most important industrial centers in the US and consistently attracts a full-spectrum of high quality companies.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toronto-based WPT Industrial Real Estate Investment Trust just made a big splash in Memphis. The company recently acquired an industrial portfolio consisting of six distribution facilities for $86.25 million.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004114608","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>WPT Industrial REIT Enters Memphis\u2019s Industrial Market with $86.25M Purchase - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WPT Industrial REIT Enters Memphis\u2019s Industrial Market with $86.25M Purchase\" \/>\n<meta property=\"og:description\" content=\"Toronto-based WPT Industrial Real Estate Investment Trust just made a big splash in Memphis. The company recently acquired an industrial portfolio consisting of six distribution facilities for $86.25 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-02T23:20:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-19T08:19:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Eastpark-II.jpg\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\\\/\"},\"author\":{\"name\":\"Liviu Oltean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/a12696609e74785a9cb5f8f7eae8bbd0\"},\"headline\":\"WPT Industrial REIT Enters Memphis\u2019s Industrial Market with $86.25M Purchase\",\"datePublished\":\"2015-03-02T23:20:05+00:00\",\"dateModified\":\"2025-02-19T08:19:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\\\/\"},\"wordCount\":211,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/Eastpark-II.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpt-industrial-reit-enters-memphiss-industrial-market-with-86-25m-purchase\\\/\",\"name\":\"WPT Industrial REIT Enters Memphis\u2019s Industrial Market with $86.25M Purchase - 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