Four Springs Capital Trust, a private real estate investment trust, has acquired an 80,000-square-foot industrial distribution warehouse located in Omaha, Nebraska that is leased to International Paper (NYSE: IP), an American pulp and paper company with annual revenues of $21.7 billion. The purchase price was not disclosed.
The REIT, through its Four Springs TEN31 Xchange affiliate, plans to launch a Delaware statutory trust program with the property for investors participating in Section 1031 tax deferred real estate exchanges.
“Mission critical industrial properties like this acquisition are a vital component of the global supply chain,” said Coby Johnson, president and chief operating officer of Four Springs Capital Trust. “We are very pleased to have acquired this well-located property in a great submarket of Omaha leased on a long-term basis to a strong investment grade tenant like International Paper.”
Four Springs Capital Trust focuses on acquiring a portfolio of retail, industrial/warehouse and healthcare properties net leased to investment grade and other creditworthy tenants under long-term leases. Four Springs TEN31 Xchange is a sponsor of DST offerings featuring single tenant net-leased real estate.