Global investment firm BGO has launched a US value-add industrial real estate strategy with the acquisition of two assets in Atlanta submarkets.
The new strategy has acquired the partially leased River Park 6, a 724,687sqft logistics facility in Jackson, Georgia, in partnership with Greenlaw Partners. BGO said it has also acquired the vacant 101 Aquila Way, a 313,000sqft former data centre property in Lithia Springs, Georgia, which is slated for redevelopment into industrial space in partnership with Saracen Properties.
BGO said its asset management strategy for the properties involves targeted capital improvements and a phased leasing programme, with stabilisation anticipated within three years.
Financial details were not disclosed.
John Carrafiell, CEO of BGO, said: “These initial investments mark the launch of a dedicated US value-add industrial strategy, building on BGO’s long-standing leadership in the sector in the US and globally.
“We are seeing a compelling opportunity set driven by recent market dislocation and evolving supply-demand dynamics, particularly in markets like Atlanta, one of the most important logistics hubs in the country. These transactions demonstrate our ability to source off-market and execute on strong value-add opportunities as we scale the strategy.”
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