Oct
10
WPT Industrial Closes $60M Deal
ByWPT Industrial REIT has announced agreements to acquire industrial properties in Minnesota and Ohio.
Toronto—WPT Industrial Real Estate Investment Trust has agreed to acquire two new properties: one in the Minneapolis – St. Paul, Minn., metropolitan area and the other one in the Columbus, Ohio, metropolitan area. The two industrial properties will be purchased from third-party vendors for a total price of approximately $60 million, representing a blended going-in capitalization rate of approximately 6.9 percent.
The Minnesota property is approximately 86 percent occupied and the Ohio property is entirely engaged. The purchase price will be satisfied with a combination of cash on hand and the assumption of a property level mortgage loan for the Minnesota property…
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