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Press Release
KTR Announces Two Building Acquisition in Las Vegas
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New York, NY- May 10, 2012 – KTR Capital Partners (“KTR”) announced today that an affiliate closed on the acquisition of a two building portfolio in Las Vegas totaling 125,853 SF. Located at 6445 Montessouri Street and 5220 Cameron Street, the properties were acquired vacant from a user-owner and KTR plans to upgrade and reposition the buildings upon closing.
6445 Montessouri Street is a 71,678 SF distribution facility situated on 4.25 acres just north of Interstate 215 and less than four miles west of Interstate 15. The facility was developed in 2008 as part of a 4 building park, and features 30’ clear ceiling height, 18 dock high and four drive in doors, as well as ESFR sprinklers. The building located at 5220 Cameron Street is a 54,175 SF distribution facility positioned on five acres, located less than two miles from Interstate 15, the Las Vegas Strip, and McCarran International Airport. The building features nine dock high doors and one drive in door, and parking for over 70 trailers.
Brian Gagne, Senior Vice President of Investments at KTR, stated, “Both buildings are highly functional assets in very desirable locations that will draw a great deal of interest from logistic firms that service the Las Vegas Strip. We have seen a number of attractive investment opportunities in the Las Vegas market over the last few years, but few match the building quality and top tier locations of these properties. This acquisition brings our Las Vegas Portfolio to over 1.5 million square feet.”
KTR CAPITAL PARTNERS
KTR Capital Partners is a real estate private equity fund manager and operating company specializing in the industrial property sector. Headquartered in New York City with offices in Philadelphia, Chicago, Miami, Las Vegas and Los Angeles, KTR manages a series of discretionary value-add investment funds that target opportunities throughout major markets in North America. KTR’s current investment vehicles provide approximately $3.5 billion of investment capacity. For further information go to www.ktrcapital.com.
6445 Montessouri Street is a 71,678 SF distribution facility situated on 4.25 acres just north of Interstate 215 and less than four miles west of Interstate 15. The facility was developed in 2008 as part of a 4 building park, and features 30’ clear ceiling height, 18 dock high and four drive in doors, as well as ESFR sprinklers. The building located at 5220 Cameron Street is a 54,175 SF distribution facility positioned on five acres, located less than two miles from Interstate 15, the Las Vegas Strip, and McCarran International Airport. The building features nine dock high doors and one drive in door, and parking for over 70 trailers.
Brian Gagne, Senior Vice President of Investments at KTR, stated, “Both buildings are highly functional assets in very desirable locations that will draw a great deal of interest from logistic firms that service the Las Vegas Strip. We have seen a number of attractive investment opportunities in the Las Vegas market over the last few years, but few match the building quality and top tier locations of these properties. This acquisition brings our Las Vegas Portfolio to over 1.5 million square feet.”
KTR CAPITAL PARTNERS
KTR Capital Partners is a real estate private equity fund manager and operating company specializing in the industrial property sector. Headquartered in New York City with offices in Philadelphia, Chicago, Miami, Las Vegas and Los Angeles, KTR manages a series of discretionary value-add investment funds that target opportunities throughout major markets in North America. KTR’s current investment vehicles provide approximately $3.5 billion of investment capacity. For further information go to www.ktrcapital.com.