Mirabaud Asset Management completes acquisition of US logistics platform
Mirabaud Asset Management, working alongside Miami-based EXAN Group, has structured the acquisition and retained management of a logistics platform facility occupied by a well-credited tenant in Houston, Texas.
EXAN advised on the acquisition of the asset by a Luxembourg-based institutional commercial real estate partnership structured by Mirabaud Asset Management on behalf of its international clientele. The platform was acquired for USD108 million from Indiana-based Duke Realty Corp.
The Katy Logistics platform, a 94,000 square meters fulfilment centre in Houston is a state-of-the-art warehouse, fully leased until 2033 to the largest e-commerce company in the world. The platform serves as a mission critical facility for the tenant and features an optimal layout for the tenant’s logistical needs. The asset is located in the highest growth area of Houston, only 15 minutes from the city’s population centre and employs 1,600 people, shipping 40,000 packages daily.
Mirabaud Asset Management is working on expanding its established real estate portfolio by acquiring single-tenant office and logistics assets in key markets across the US and has advised on the acquisition of three properties in the United States since 2019. The real estate investment team remains focused on mission-critical, high-quality buildings, in regions with positive demographic and economic trends, leased to investment-grade tenants with long-term leases in place.
Vaqar Zuberi, Senior Vice President at Mirabaud Asset Management, says: “The Katy Logistics platform is a world-class institutional asset in a key market in the United States, leased to a fast growing global e-commerce company. We are pleased to have completed this acquisition on behalf of our clients and continue to look to grow our institutional real-estate portfolio with similar high-quality office and industrial properties.
Mirabaud was advised on the acquisition by EXAN, King & Spalding, EY, and Elvinger Hoss Prussen. Mortgage financing was provided by New York Life Real Estate Investors.
Mirabaud’s real estate team is supported by an eco-system of industry experts in structuring, tax compliance, legal, due-diligence, and property management. Our main partner, EXAN, is a real estate asset management firm with over USD2.5 billion in assets under management that assists and advises Mirabaud throughout the acquisition and management process.