Amstar, Huntington Industrial Partners Acquire Over 500,000 Square Feet of Industrial Properties

Feb 26, 2013

Amstar, 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. Seiphe Jr.