A venture between San Juan Capistrano, CA-based Birtcher Anderson & Davis, LLC and Belay Investment Group has recently closed on a $42 million purchase of an Industrial Portfolio located in Dallas, TX comprised of nine (9) buildings totaling 300,437 sf, and home to 57 tenants. The seller was represented by CBRE National Partners. This represents the fourth investment for the venture since October 2020 totaling $150 million in consideration.
“We are pleased to be increasing our footprint with Belay Investment Group in the DFW light industrial market. We were fortunate to acquire properties in great physical condition and with well-cared for tenants thanks to Kennington Commercial’s stewardship. With the lack of new supply in the face of continued strong demand, we’re hopeful to enjoy solid rental growth and high occupancy during our investment period” noted Bob Anderson, Co-Chairman of Birtcher Anderson & Davis.
“Multi-tenant industrial continues to be a target product type for Belay and this high-quality Dallas, TX portfolio continues on that theme and increases our total footprint in the market to over 900K square feet,” said Jake Loughridge, Senior Vice President of Investment with Belay Investment Group. “The favorable asset locations within the submarkets and lack of significant deferred maintenance were compelling attributes of this transaction. We’re thrilled to have completed another acquisition with Birtcher Anderson & Davis and appreciate all of their team’s hard work.”
“Belay is excited to be building upon its relationship with Birtcher, Anderson and Davis with the Dallas Light Industrial Portfolio acquisition” added Eliza Bailey, Belay’s Managing Principal in charge of Investment Team activity. “Over the course of our roughly year-long partnership, Belay has been impressed by Birtcher’s efficiency and professionalism in the leasing and management of our assets, which has led to heightening the level of care and overall tenant experience at our properties.”
About Birtcher Anderson & Davis
Birtcher Anderson & Davis (“BA&D”) is a California based, privately-owned real estate investment, development, and property management firm located in San Juan Capistrano, CA with other satellite locations in CA, NV, and AZ. BA&D is a vertically integrated real estate operating company focused on acquiring value-add, middle-market, multi-tenant warehouse and light industrial properties in high growth U.S. markets. For more information visit: birtcherandersondavis.com