Latest news with #propertyacquisition
Associated Press
19-06-2025
- Business
- Associated Press
Terreno Realty Corporation Acquires Property in Queens, NY for $16.0 Million
BELLEVUE, Wash.--(BUSINESS WIRE)--Jun 19, 2025-- Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Long Island City Queens, New York on June 18, 2025 for a purchase price of approximately $16.0 million. The property consists of one industrial distribution building containing approximately 36,000 square feet on 1.0 acres. The property is at 11-40 Borden Avenue, adjacent to the entrance to the Queens-Midtown Tunnel and the Pulaski Bridge, and provides two dock-high and one van-level loading positions. The property is 100% leased through May 2028 to an insulation distributor and the estimated stabilized cap rate is 3.9%. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C. Additional information about Terreno Realty Corporation is available on the company's web site at Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management's beliefs and on assumptions made by, and information currently available to, management. When used, the words 'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend,' 'may,' 'might,' 'plan,' 'project,' 'result,' 'should,' 'will,' 'seek,' 'target,' 'see,' 'likely,' 'position,' 'opportunity,' 'outlook,' 'potential,' 'enthusiastic,' 'future' and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2024 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends. View source version on CONTACT: Jaime Cannon 415-655-4580 KEYWORD: UNITED STATES NORTH AMERICA WASHINGTON NEW YORK INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT SOURCE: Terreno Realty Corporation Copyright Business Wire 2025. PUB: 06/19/2025 09:15 AM/DISC: 06/19/2025 09:16 AM
Yahoo
19-06-2025
- Business
- Yahoo
Terreno Realty Corporation Acquires Property in Queens, NY for $16.0 Million
BELLEVUE, Wash., June 19, 2025--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Long Island City Queens, New York on June 18, 2025 for a purchase price of approximately $16.0 million. The property consists of one industrial distribution building containing approximately 36,000 square feet on 1.0 acres. The property is at 11-40 Borden Avenue, adjacent to the entrance to the Queens-Midtown Tunnel and the Pulaski Bridge, and provides two dock-high and one van-level loading positions. The property is 100% leased through May 2028 to an insulation distributor and the estimated stabilized cap rate is 3.9%. Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C. Additional information about Terreno Realty Corporation is available on the company's web site at Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management's beliefs and on assumptions made by, and information currently available to, management. When used, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "project," "result," "should," "will," "seek," "target," "see," "likely," "position," "opportunity," "outlook," "potential," "enthusiastic," "future" and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2024 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends. View source version on Contacts Jaime Cannon415-655-4580
Yahoo
17-06-2025
- Business
- Yahoo
Diamond Properties Announces Acquisition of Two Premier Industrial Assets
CINCINNATI, June 17, 2025--(BUSINESS WIRE)--Diamond Properties, a leading real estate investment firm, is pleased to announce the acquisition of two high-quality industrial properties: 621 Wilmer Avenue in Cincinnati, Ohio and I-271 Commerce Center in Mayfield Village, Ohio. This strategic expansion enhances Diamond Properties' presence in key logistics and distribution markets, reinforcing its commitment to long-term value creation. 621 Wilmer Avenue: Prime Industrial Asset in Cincinnati 621 Wilmer Avenue is a 79,544-square-foot industrial facility situated on 4.61 acres in a sought-after infill market. Built in 1979 and 100% occupied, the property offers strong income potential with established tenants. Key highlights include: Strategic Location: Easy access to major highways (I-75, I-71, and I-471), enhancing connectivity. Modern Infrastructure: A newly installed TPO roof (2022) with warranty through 2037. I-271 Commerce Center: High-Quality Industrial Investment in Cleveland MSA Located at 600 Beta Drive in Mayfield Village, OH, I-271 Commerce Center is a 90,560-square-foot industrial facility, fully occupied by two established tenants. Notable features include: Excellent Accessibility: Situated near I-271, just 25 minutes from downtown Cleveland. Expanding Our Industrial Real Estate Portfolio "This acquisition underscores our strategy of investing in well-located, income-generating industrial properties that align with market trends and long-term growth opportunities," said Jim Diamond, CEO of Diamond Properties. "We continue to seek high-performing assets that enhance our portfolio and deliver value to our stakeholders." For more information about Diamond Properties and their expanding portfolio, visit About Diamond Properties Diamond Properties is a premier real estate investment firm focused on acquiring and managing industrial, commercial, and mixed-use properties across key U.S. markets. With a commitment to strategic growth and sustainable investments, the company continues to expand its presence in high-demand locations. View source version on Contacts Media Contact: Laressa GjonajMarketing DirectorDiamond Propertieslgjonaj@ 914-639-3813 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
30-05-2025
- Business
- Associated Press
Flexi-View Lending Closes $9.5 Million Commercial Loan for Property Acquisition in Dallas, TX
LOS ANGELES, May 30, 2025 (GLOBE NEWSWIRE) -- Flexi-View Lending is proud to announce the successful closing of a $9.5 million commercial loan to support a strategic property acquisition in Dallas, Texas. The loan was secured on an expedited timeline, closing in just 30 days—demonstrating Flexi-View Lending's commitment to efficient and responsive financing solutions. The 34-month term loan was originated by James McDonough, a seasoned commercial lending professional known for structuring competitive financial solutions tailored to complex real estate transactions. With an interest rate of 10.75%, the financing enables the borrower to act swiftly on a high-value investment opportunity in one of the nation's most dynamic real estate markets. 'This transaction reflects our ongoing mission to provide flexible, timely, and high-impact lending solutions for commercial real estate investors,' said Tim Murray, spokesperson for Flexi-View Lending. 'Dallas remains a vibrant and growing market, and we are proud to play a role in facilitating strategic acquisitions in this area.' Flexi-View Lending continues to be a preferred partner for investors and developers seeking speed, certainty, and expertise in commercial financing. About Flexi-View Lending Flexi-View Lending is a national provider of innovative commercial real estate financing solutions. Specializing in bridge loans, acquisition financing, and value-add opportunities, Flexi-View Lending combines deep market knowledge with fast execution to empower clients to seize critical investment opportunities. Media Contact: Tim Murray Spokesperson, Flexi-View Lending Email: [email protected] Phone: (209) 782-8062 Website:
Bloomberg
23-05-2025
- Business
- Bloomberg
Brookfield Eyes More Singapore Deals From REITs Under Pressure
Brookfield Asset Management sees the potential for more property acquisitions from real estate investment trusts in Singapore after its first deal in the city-state. Many listed REITs in the country are trading at discounts to their net asset value, said Andrew Burych, managing partner and head of East Asia for the Canadian investment giant's real estate group. It's 'pretty interesting to work with these REITs to see if there's transactions we can do with them, so that they can recycle the capital into more core businesses,' he said.
