JOINT VENTURE BUYS OHIO INDUSTRIAL REAL ESTATE PORTFOLIO

COLUMBUS, OHIO — Privately held real estate investment firm Hackman Capital Partners LLC has completed the acquisition of a 28-building industrial real estate portfolio totaling 2.5 million square feet. The purchase price was undisclosed. Five of the properties, totaling 611,578 square feet, are located in Columbus and 16 properties, totaling 1.5 million square feet, are located in Cleveland. The remaining seven properties, totaling 395,072 square feet, are located in Cincinnati. Two land parcels in Columbus, totaling 23.4 acres, also are included in the portfolio. The multi-tenant buildings include 108 tenant spaces ranging from 2,400 to 219,600 square feet. The portfolio was 73 percent occupied at the time of closing. Deutsche Bank provided first mortgage financing to Los Angeles-based Hackman Capital for the portfolio, and affiliates of New York-based Square Mile Capital Management LLC supplied an additional $25 million of capital.