ElmTree Funds announced that it has acquired six properties across four states, including Missouri, for approximately $300 million.
The Clayton-based real estate firm is adding to its portfolio with three office buildings, two industrial spaces and one health care facility in Missouri, Michigan, Alabama and South Carolina.
The acquired assets include:
- 15,720-square-foot build-to-suit health care property in Kansas City, Missouri, leased to Baxalta Inc.
- 375,466 square-foot build-to-suit industrial development in Valley, Alabama, leased to WestRock Co.
- 210,126-square-foot office property in Greenville, South Carolina, leased to Jacobs Engineering Group Inc.
- 115,000-square-foot build-to-suit office property in Detroit, leased to Hella KGaA Hueck & Co.
- 100,000-square-foot build-to-suit office property in Detroit, leased to Tenneco Inc.
- 1.2 million-square-foot build-to-suit industrial property leased to an unidentified tenant in the southwest U.S.
The properties were acquired in separate transactions over the first six months of the year and will add more than 2 million square feet to ElmTree’s portfolio.
ElmTree, founded in 2011 by Jim Koman, now has acquired, developed or financed more than $6 billion worth of real estate in the U.S.