{"id":1004730522,"date":"2024-09-27T03:40:14","date_gmt":"2024-09-27T11:40:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004730522"},"modified":"2024-09-27T04:05:13","modified_gmt":"2024-09-27T12:05:13","slug":"northwood-investors-pays-160m-for-sun-belt-logistics-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/","title":{"rendered":"Northwood Investors Pays $160M for Sun Belt Logistics Assets"},"content":{"rendered":"\n<p>Northwood Investors has acquired a collection of industrial assets totaling 1.8 million square feet across Georgia, Florida and Texas for $160 million.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Sunbelt-Logistics-Distribution-Portfolio.jpg\"><img decoding=\"async\" data-attachment-id=\"1004730561\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/sunbelt-logistics-distribution-portfolio\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Sunbelt-Logistics-Distribution-Portfolio-e1727437049773.jpg\" data-orig-size=\"799,599\" 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=\"Sunbelt Logistics Distribution Portfolio\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Home Depot Cedar Port Distribution Center in Baytown, Texas; Havertys Distribution Center in Braselton, Ga.; and 10000 NW 15th Terrace in Miami, Fla. Image courtesy of JLL\u202fCapital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Sunbelt-Logistics-Distribution-Portfolio-e1727437049773.jpg?w=799\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Sunbelt-Logistics-Distribution-Portfolio.jpg?w=1024\" alt=\"Home Depot Cedar Port Distribution Center in Baytown, Texas; Havertys Distribution Center in Braselton, Ga.; and 10000 NW 15th Terrace in Miami, Fla.\" class=\"wp-image-1004730561\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">Home Depot Cedar Port Distribution Center in Baytown, Texas; Havertys Distribution Center in Braselton, Ga.; and 10000 NW 15th Terrace in Miami, Fla. <em>Image courtesy of JLL\u202fCapital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>JLL\u202fCapital Markets represented the seller of the fully leased Sun Belt Logistics Distribution Portfolio. The brokerage firm also secured the acquisition financing from Apollo affiliates.<\/p>\n\n\n\n<p>The portfolio comprises three industrial buildings in premier distribution submarkets across three dynamic growth cities: Home Depot Cedar Port Distribution Center in Baytown, Texas; Havertys Distribution Center in Braselton, Ga.; and 10000 NW 15th Terrace in Miami, Fla.<\/p>\n\n\n\n<p>Senior Managing Director Britton Burdette told <em>Commercial Property Executive<\/em>: \u201cOver the past few years, we\u2019ve seen an increased focus from investors to high-growth markets like those in the Sun Belt. This portfolio exemplifies this demand.\u201d<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-deliveries\/\">Top 5 Markets for Industrial Deliveries<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Burdette added that each property is a mission-critical component of its tenant\u2019s supply chain, with occupancy histories spanning two decades for the Atlanta and Houston centers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-long-term-investment-potential\">Long-term investment potential<\/h2>\n\n\n\n<p>Such fundamentals, combined with the region\u2019s economic vitality and robust infrastructure, present a compelling case for long-term investment potential.<\/p>\n\n\n\n<p>The portfolio has a seven-year weighted average lease term with a significant, embedded mark to market, as the in-place rents are approximately 40 percent below market rents.<\/p>\n\n\n\n<p>Burdette and Capital Markets Industrial Co-Leader Trent Agnew and Managing Director Luis Castillo led the JLL Investment Sales and Advisory team. Senior Director Bobby Norwood led the JLL Debt Advisory team that secured the financing.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-acquires-1-2-msf-distribution-center\/\">Burdette\u2019s team<\/a> earlier this month brokered a deal for Transwestern Investment Group, which acquired Interstate West\u2019s Building C, an almost 1.2 million-square-foot industrial facility in Ellabell, Ga., a Savannah submarket. VanTrust Real Estate was the seller.<\/p>\n\n\n\n<p>Northwood invests alongside institutional and private clients in a broad range of real estate and real estate-related investment opportunities across the U.S. and Europe. It began the year with approximately $8 billion of assets under management.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The properties total 1.8 million square feet.<\/p>\n","protected":false},"author":3568,"featured_media":1004730561,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,23891,21742],"tags":[38114,44006,34258],"class_list":["post-1004730522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-national","category-latest","tag-apollo-bank","tag-jll-capital-markets","tag-northwood-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Northwood Investors Pays $160M for Sun Belt Logistics Assets - 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\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Northwood Investors Pays $160M for Sun Belt Logistics Assets\" \/>\n<meta property=\"og:description\" content=\"The properties total 1.8 million square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/\" \/>\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=\"2024-09-27T11:40:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-27T12:05:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Sunbelt-Logistics-Distribution-Portfolio-e1727437049773.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"799\" \/>\n\t<meta property=\"og:image:height\" content=\"599\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Richard Berger\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/\",\"name\":\"Northwood Investors Pays $160M for Sun Belt Logistics Assets - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Sunbelt-Logistics-Distribution-Portfolio-e1727437049773.jpg\",\"datePublished\":\"2024-09-27T11:40:14+00:00\",\"dateModified\":\"2024-09-27T12:05:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6d4c5f1b2f682b3604ad9fe73c19fed7\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-pays-160m-for-sun-belt-logistics-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Sunbelt-Logistics-Distribution-Portfolio-e1727437049773.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Sunbelt-Logistics-Distribution-Portfolio-e1727437049773.jpg\",\"width\":799,\"height\":599,\"caption\":\"Home Depot Cedar Port Distribution Center in Baytown, Texas; 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