Cantor’s Rodin Global Property Trust Buys Texas Industrial Facility from Mohr Capital
Rodin Global Property Trust Inc., a real estate investment trust sponsored by Cantor Fitzgerald Investors, LLC, has purchased an 89,500-square-foot industrial facility in the Dallas Fort-Worth submarket of Lewisville, Texas.
Rodin Global Property Trust Inc., a real estate investment trust sponsored by Cantor Fitzgerald Investors, LLC, has purchased an 89,500-square-foot industrial facility in the Dallas Fort-Worth submarket of Lewisville, Texas. The REIT purchased the asset for $14.1 million from a subsidiary of Mohr Capital.
The property is 100 percent leased to HOYA Optical Labs of America Inc., a leading manufacturer of prescription lenses and a subsidiary of HOYA Corporation.
“The Dallas-Fort Worth industrial market is a regional distribution hub with strong fundamentals, including robust job and population growth. The property is located in the Waters Ridge Business Park, an institutional-quality industrial and office park,” says Roger Shreero, managing director, Cantor Fitzgerald.
The facility is the North American headquarters and largest U.S. production facility for HOYA Optical Labs, a manufacturer and supplier of ophthalmic lenses to eyecare professionals, independent wholesale laboratories and retailers.
HOYA Optical executed a 12-year lease extension in 2016 and continues to invest in equipment and infrastructure at the property. HOYA Corporation, the guarantor of the lease, is rated AA by the Japan Credit Rating Agency Ltd.
Rodin Global Property Trust invests primarily in single-tenant net leased commercial properties located in the United States and Europe and raised approximately $80 million in investor equity, as of November 13, 2018. As of the third quarter 2018, the company has invested approximately $81 million in real estate and real estate-related assets, according to Summit Investment Research. Unless extended, the primary offering is expected to close on March 23, 2019.
Cantor Fitzgerald Investors and its affiliates completed more than $10 billion of commercial real estate acquisitions and financings over the past 18 months.
