Alternative investment management firm Alpaca Real Estate (“ARE”) announced today the formation of a $250 million industrial strategy to assemble an attractive portfolio of infill logistics properties in high-growth markets across the Southeast and Southwest United States. Seeding the portfolio is a pair of assets ARE acquired in Nashville in a newly established partnership with LRC Properties.

The inaugural properties seeding the strategy comprise approximately 500,000 square feet, leased at below market rates to credit tenants. The properties are being acquired off-market and are ideally located in Nashville’s high-demand Southeast submarket, which benefits from a ~3% vacancy rate. The location provides ease of access to critical regional arteries including I-24, Route 41 and Jefferson Pike. The assets are also proximate to manufacturing demand drivers, including Nissan’s 6.5 million-square-foot assembly plant – the company’s largest in North America – positioning them well to benefit from onshoring of manufacturing.

“This transaction exemplifies our infill industrial strategy, which prioritizes assets in high-growth markets with diverse employment and low cost of labor, where we can leverage our operational and repositioning expertise to create value,” said Peter Weiss, Managing Partner of Alpaca Real Estate. “Infill logistics assets make up the largest component of the U.S. industrial market, supported by strong demand drivers including e-commerce; onshoring and nearshoring; and long-term supply constraints fueled by limited land availability and high construction costs. These tailwinds stand to remain in place as potential trade policy impacts take hold.”

Howard Lavitt, Managing Partner of LRC, added, “We are excited to partner with Alpaca Real Estate and to continue our strong history investing in logistics assets in Nashville. Nashville has been a tremendously successful market for LRC driven by resilient demand, a great labor pool and continued rent growth throughout multiple cycles.”

About Alpaca Real Estate:

Alpaca Real Estate (“ARE” or the “Firm”) is a real estate private equity firm where innovation meets real assets, maximizing the potential of traditional real estate investing. ARE utilizes a thematic investment approach to acquire and manage traditional and niche real estate investments with an emphasis on properties that require recapitalization, repositioning, strategic capital, and/or physical transformation. The Firm integrates relationships fostered through Alpaca VC with innovative operating platforms to unlock asymmetric upside potential, creating option value in excess of traditional real estate business plans.

For more information, visit www.alpacarealestate.com.

About LRC Properties

LRC Properties is a vertically integrated and experienced commercial real estate firm focused on East Coast commercial real estate investments. Headquartered in the New York City metro area, with offices in Charleston, South Carolina and Durham, North Carolina, LRC concentrates in acquiring value-add and core plus properties in vibrant markets. LRC focuses on creating above-market returns for its investment partners by providing substantial value to the properties it purchases through operations, repositioning, restructuring and redeveloping, utilizing a “hands-on” management approach. LRC Properties also operates HELM Property Management & Services, LLC, a service-orientated property management firm that provides comprehensive property management, project management, asset management and accounting/financial reporting services. For more information on LRC Properties and HELM, visit www.lrcprop.com.

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