Cantor Fitzgerald Income Trust Buys Cold Storage Industrial Facility from 1031 Sponsor
Cantor Fitzgerald Income Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Rodin Global Property Trust, has purchased a 465,300-square-foot cross-dock cold storage facility located in Columbus, Ohio.
Cantor Fitzgerald Income Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Rodin Global Property Trust, has purchased a 465,300-square-foot cross-dock cold storage facility located in Columbus, Ohio, for $58 million, excluding closing costs. The seller was an affiliate of Syndicated Equities, a sponsor of securitized 1031 exchange offerings.
The industrial property is located at 5303 Fisher Road and is 100 percent net leased to Mars Petcare US. Inc., the domestic segment of Mars’ global pet care business. The lease expires in May 2027 and include 2 percent annual rent escalations.
The REIT funded the acquisition with cash from its ongoing offering and its Citizens Bank credit facility.
Cantor Fitzgerald Income Trust launched in March 2017 to invest in a portfolio of income-producing commercial real-estate, as well as debt secured by commercial real estate, located primarily in the United States. The REIT has raised $292.7 million in its initial public offering as of February 2022, and oversees a portfolio valued at roughly $765 million ($730.4 million in real estate and $34.8 million in real estate related assets).
