Mirabaud AM acquires mission-critical US logistics facility
The transaction, structured by Mirabaud Asset Management as a Luxembourg-based institutional commercial real estate partnership, brings the value of their US real estate portfolio to US$500 million.
The 6,200 sqm fulfilment centre in Greensboro, is fully let to the world’s largest e-commerce company until the year 2029. Offering a hub for state-of-the-art last-mile delivery, the asset’s optimal layout is perfectly suited to the tenant’s specific needs and serves as a mission-critical facility for its operations. It is strategically located in the Greensboro industrial submarket, the largest and most active in the Piedmont Triad region.
Mirabaud Asset Management continues to expand its established US real estate portfolio through the acquisition of single-tenant office and logistics assets in key markets, advising on the acquisition of five US properties since 2019. The investment team remains focused on quality mission-critical buildings, in regions with positive demographic and economic trends, leased to investment grade tenants with established long-term leases.
Vaqar Zuberi, senior vice president at Mirabaud Asset Management comments: “Located in a fast-growing region, the Greensboro logistics facility is fully aligned to our strategy of targeting high quality US assets. While many parts of the real estate market remain under pressure due to Covid-19 and broader economic challenges, the logistics space is poised to continue benefiting from compelling short and longer-term structural tailwinds.”
Mirabaud Asset Management was advised on the acquisition by Exan Group, King & Spalding, EY, and Elvinger Hoss Prussen. Financing was provided by a regional US institution.