An industrial facility comprising 372,856 sqft has been obtained by the Capital Trust Group in the suburban Milwaukee community of Menomonee Falls, Wisconsin, US.
The facility is a research and development, manufacturing and testing facility and has an adjacent 118,620 sqft corporate office.
The acquisition was arranged by JLL Capital Markets between Capital Trust Group and Bascom Group, a private equity firm. Apart from arranging the joint venture, JLL also prepared USD63.7 million in financing for a total cost of USD100.2 million for the acquisition.
The facility was delivered in July 2020 as a build-to-suit for Leonardo DRS’ naval division. It is used to design test and produce naval and marine products for the US Navy.
Raney Aburdene, Head of Investor Relations and Business Development, Capital Trust Group, said: “We are delighted to be re-entering the US real estate market after a prolonged period of focusing on Europe and the UK. The asset we have secured provides attractive risk adjusted returns for our investors in a challenging market.”