{"id":1004354489,"date":"2019-09-24T00:37:07","date_gmt":"2019-09-24T08:37:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004354489"},"modified":"2019-09-24T00:37:07","modified_gmt":"2019-09-24T08:37:07","slug":"dra-advisors-jv-pays-205m-for-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-jv-pays-205m-for-industrial-portfolio\/","title":{"rendered":"DRA Advisors JV Pays $205M for Industrial Portfolio"},"content":{"rendered":"<div id=\"attachment_1004354501\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Warehouse.-Image-via-Freepik.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004354501\" data-attachment-id=\"1004354501\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-jv-pays-205m-for-industrial-portfolio\/warehouse-image-via-freepik\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Warehouse.-Image-via-Freepik.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Image via Freepik\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Image via Freepik&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Warehouse.-Image-via-Freepik.jpg?w=800\" class=\"wp-image-1004354501 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Warehouse.-Image-via-Freepik.jpg\" alt=\"Image via Freepik\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Warehouse.-Image-via-Freepik.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Warehouse.-Image-via-Freepik.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Warehouse.-Image-via-Freepik.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004354501\" class=\"wp-caption-text\"><em>Image via Freepik<\/em><\/p><\/div>\n<p>A joint venture between Jera Partners and DRA Advisors acquired 27 industrial properties for $205 million.&nbsp;The 3.3 million-square-foot portfolio of warehouse, distribution and manufacturing properties is fully leased to 14 tenants and spread throughout 15 states.<\/p>\n<p>Matthew Shore, DRA\u2019s chief investment officer, said the assets were well located and supported by healthy credit with organic growth. The portfolio also has a weighted average lease term of approximately 13 years and weighted average annual rent increases of roughly 2 percent.<\/p>\n<p>Jera did not respond to <em>Commercial Property Executive<\/em>&#8216;s questions about where the properties were located, who the tenants were or who the seller was. However, David Kay, Jera\u2019s managing partner, said the 27 properties will serve as the foundation for a large diversified industrial portfolio for the joint venture.<\/p>\n<p>DRA already owns more than 405 industrial properties that total more than 56 million square feet. However, their investments span multiple property types including office, retail and multifamily properties. DRA also recently acquired a 203,290-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-office-building-commands-48m\/\">office building in Phoenix<\/a> for $47.5 million.<\/p>\n<h2>Slight slowdown for industrial<\/h2>\n<p>The joint venture\u2019s purchase of this industrial portfolio comes at a time when the market is slowing down after years of increased attention. According to a <a href=\"https:\/\/www.commercialsearch.com\/news\/steady-industrial-demand-maintains-vacancy-near-historic-lows\/\">second-quarter report <\/a>on the industrial market from Prologis, the industrial sector is still growing, but at a more moderate pace compared to previous years.<\/p>\n<p>The vacancy rate of the industrial market is likely to stay at 4.5 percent for the rest of 2019, but the rental rate growth will slow down, according to the report. The report noted that the rental rate growth is expected to drop to 6 percent by the end of 2019, which is lower than 2018\u2019s 8 percent and 2017\u2019s 9 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company teamed up with Jera Partners to acquire 27 facilities spread throughout 15 states and totaling more than 3 million square feet.<\/p>\n","protected":false},"author":883,"featured_media":1004354501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,23891,21742],"tags":[47123,33919,32956],"class_list":["post-1004354489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-national","category-latest","tag-david-kay","tag-dra-advisors-llc","tag-prologis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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