Meritex recapitalizes 18-building Atlanta industrial portfolio via continuation vehicle backed by Goldman funds
The vehicle holds 1,222,596 square feet of multi-tenant industrial space, with Meritex staying on as controlling partner and day-to-day manager.
At a glance
Meritex Company has recapitalized select assets in partnership with funds managed by Vintage Strategies at Goldman Sachs Alternatives, according to Connect CRE.
Connect CRE attributes the investment case to limited availability of developable land in those submarkets and sustained demand for distribution and light manufacturing space.
Meritex Company has recapitalized select assets in partnership with funds managed by Vintage Strategies at Goldman Sachs Alternatives, according to Connect CRE.
The newly formed continuation vehicle acquired exposure to an 18-building infill industrial portfolio totaling 1,222,596 square feet in Atlanta. Meritex remains the controlling partner and serves as the operating member and day-to-day manager of the portfolio.
The properties are multi-tenant shallow- and mid-bay industrial buildings in Kennesaw, Smyrna, Norcross, Lawrenceville and Alpharetta, spanning Atlanta's Northeast, North Central/Georgia-400 and Northwest submarkets. The reported total works out to about 67,922 square feet per building. Connect CRE does not report a price or capitalization figure for the transaction.
Connect CRE attributes the investment case to limited availability of developable land in those submarkets and sustained demand for distribution and light manufacturing space. The report says the portfolio is expected to benefit from long-term occupancy stability and continued operating performance, supported by a tenant base across a range of industries.
| Item | Detail |
|---|---|
| Sponsor / operator | Meritex Company (controlling partner, operating member, day-to-day manager) |
| Capital partner | Funds managed by Vintage Strategies at Goldman Sachs Alternatives |
| Structure | Newly formed continuation vehicle |
| Portfolio | 18 buildings, 1,222,596 sq ft, multi-tenant shallow- and mid-bay industrial |
| Locations | Kennesaw, Smyrna, Norcross, Lawrenceville, Alpharetta; Northeast, North Central/Georgia-400 and Northwest submarkets |
| Price / capitalization | Not reported in the coverage |
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