ST. LOUIS — ElmTree Net Lease Fund II has acquired five single-tenant net lease investment properties for $90.3 million. The acquisitions include a 34.4-acre industrial property in Fort Wayne, Ind., and four office properties in Ohio, South Carolina, Minnesota and Alabama. The build-to-suit project acquired for $52.6 million in Fort Wayne will consist of the development and construction of an approximately 333,750-square-foot manufacturing building. The office properties include a 100,800-square-foot single-tenant facility in Columbus, Ohio, purchased for $11.8 million; a 39,794-square-foot, single-tenant facility in Lexington, S.C., purchased for $5.5 million; a 75,601-square-foot, single-tenant facility in Arden Hills, Minn., purchased for $7.5 million; and a 66,500 square-foot office and call center located on an 8.8-acre land parcel in Birmingham, Ala., bought for $12.8 million. ElmTree Net Lease Fund II LLC is a real estate private equity fund sponsored by St. Louis-based ElmTree Funds LLC.
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