Denver, Colorado (PRWEB) February 25, 2013
Amstar, a Denver-based real estate investment manager, and Huntington Industrial Partners, a fully integrated industrial owner and operator, announced today the acquisition of six industrial properties, totaling more than 500,000 square feet, in Memphis, Tennessee, bringing the total acquisitions for Amstar and Huntington to 1.6 million square feet in 13 properties. The acquisition is part of Amstar’s larger industrial strategy, which is focused on acquiring well-located, substantially leased properties that Amstar believes are undervalued, with the potential to provide high current income and attractive investment returns. The properties are located in the Southeast Memphis submarket, adjacent to the Memphis International Airport, home of Federal Express, and the BNSF Intermodal yard, both demand drivers for distribution facilities in the southeast.
“Amstar is building out a Southeastern US industrial portfolio focused on stabilized, well-located industrial properties that Amstar believes will provide attractive current income. The Memphis acquisition affords Amstar the opportunity to expand its reach in the region into one of the top logistics markets in the country, and build upon its established and successful relationship with Huntington,” said Amstar Senior Vice President Tricia Noble, who leads the firm’s industrial investment platform.
“These properties are consistent with Huntington’s strategy of purchasing institutional quality assets in key industrial markets at discounts to replacement cost. We are pleased to partner with Amstar on this initial acquisition in Memphis and grow our portfolio with Amstar to 1.6 million square feet in three key markets,” said Huntington Industrial Partners President John W. Seiple Jr.
Amstar Advisers, LLC is a real estate investment manager that acquires, develops and manages office, multifamily, retail, hotel and industrial properties in select U.S. and international markets. Amstar Advisers, LLC currently has more than $2.3 billion in assets under management (as of December 31, 2012). Amstar prides itself on its ability to decisively take advantage of opportunities in a rapidly changing investment environment while maintaining an unwavering commitment to putting its clients’ objectives first. For more information on Amstar, go to http://www.amstar.com or contact Amstar Managing Director Rob Toomey at firstname.lastname@example.org.
About Huntington Industrial Partners
Huntington Industrial Partners is an industrial real estate operating company with a strategic focus on acquiring and developing infill industrial properties in select U.S. markets. Huntington has offices in Atlanta, Dallas, Denver and Southern California that are staffed by local teams with extensive industrial experience, local market knowledge and established networks of market contacts.