The Highlands asset adds a nice measure of core stability to our joint venture portfolio. --Dan Williams, Chief Investment Officer
Minneapolis, MN (PRWEB) October 25, 2012
Meritex today announced a further expansion of its joint venture holdings in Atlanta with the acquisition of a 61,884 square foot, office/warehouse project located at 5080 Highlands Parkway in Smyrna, Georgia. The Class A industrial property is currently 100% occupied. “Our investment strategy focuses on acquiring properties where we can create value and produce consistent cash flows,” said Dan Williams, chief investment officer of Meritex. “The Highlands asset adds a nice measure of core stability to our joint venture portfolio.”
This acquisition further expands Meritex’s joint venture relationship with a major institutional investor by increasing its holdings in Atlanta to more than 1,067,000 square feet. Meritex is the managing partner and will manage the Highlands property on behalf of the venture. “We are excited about this addition to our portfolio in Atlanta. The property is a highly functional asset designed to serve the wide range of businesses located in the vibrant Highlands Industrial Park submarket,” commented Dan Ward, director of investments for Meritex in Atlanta.
Resource Real Estate Partners, LLC represented Meritex on the acquisition.
Company Information: Meritex is a private real estate investment and management company that acquires, develops, owns and operates commercial real estate, primarily institutional grade, multi-tenant industrial properties. The Company owns, leases, and manages nearly 8.9 million square feet of commercial real estate in 7 markets in the U.S. Its portfolio consists of multi-tenant industrial, office and subsurface industrial properties. The Company’s properties are located in Atlanta, Columbus, Denver, Houston, Indianapolis, Kansas City, and Minneapolis-St. Paul. Additional information can be found at the Company’s website http://www.meritex.com.