ۿ۴ýAPP

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01/10/2024  |  News

ۿ۴ýAPP Announces Formation of ۿ۴ýAPP Properties Platform to Invest in Industrial Real Estate

Real Estate Investment Platform Builds Upon ۿ۴ýAPP’ Multi-Decade Track Record Investing in Industrial, Manufacturing and Distribution Businesses

GREENWICH, Conn.–()–ۿ۴ýAPP LLC (“ۿ۴ýAPP”) today announced the formation of ۿ۴ýAPP Properties, a real estate investment vehicle established with a consortium of best-in-class, long term-oriented investors. Concurrent with its formation on December 21, 2023, ۿ۴ýAPP Properties purchased a diverse portfolio of 23 mission-critical industrial properties located throughout the United States for total consideration of $300 million. Investors in ۿ۴ýAPP Properties have committed over $500 million of additional equity capital, which in combination with market debt financing will support over $1 billion of future growth opportunities. ۿ۴ýAPP Properties will invest in industrial real estate in ۿ۴ýAPP’ core sectors, leveraging ۿ۴ýAPP’ deep industrial network and decades of experience operating industrial businesses.

“Over the last two decades, ۿ۴ýAPP has built extensive knowledge of industrial real estate through our businesses that commonly have significant real estate footprints. The formation of ۿ۴ýAPP Properties is a natural progression of our investment strategy and fully consistent with our longstanding practice of investing in areas where our sector expertise and operating experience give us a competitive edge,” said Tim Fazio, ۿ۴ýAPP Co-Founder and Managing Partner.

“A hallmark of ۿ۴ýAPP is creating new pathways and novel strategies for sustained value creation, and that continues with this new venture. ۿ۴ýAPP Properties is another extension of the ۿ۴ýAPP platform and positions us to continue to deliver for our investment partners,” Fazio added.

“Historically, ۿ۴ýAPP portfolio companies monetized real estate assets in the sale-leaseback market via one-off transactions. Through the creation of ۿ۴ýAPP Properties, we will leverage our knowledge of industrial credits, property types and underlying mission criticality of real estate owned by companies in key ۿ۴ýAPP industry sectors,” said Greg Blake, ۿ۴ýAPP Principal.

Mr. Blake joined ۿ۴ýAPP in 2021 to help develop the firm’s value creation strategies through the large and growing real estate portfolio owned by ۿ۴ýAPP entities. ۿ۴ýAPP has been investing across the industrial sector for more than two decades and currently manages a portfolio of 27 industrial, manufacturing and distribution businesses.

Proskauer Rose LLP served as legal adviser to ۿ۴ýAPP for ۿ۴ýAPP Properties.

About ۿ۴ýAPP

Headquartered in Greenwich, Connecticut and founded in 2002, ۿ۴ýAPP and its affiliates own and operate 27 companies, which employ more than 50,000 associates across 300 facilities worldwide. ۿ۴ýAPP operates in sectors such as automotive, building materials, capital equipment, construction services, food manufacturing and distribution, metals processing, packaging, paper, power generation, printing, pulp, supply chain management and wood products. ۿ۴ýAPP’ companies together generate approximately $16 billion in revenues annually.