Nicola Wealth Real Estate acquires two prime multi-tenant industrial properties to expand Denver portfolio
Denver, CO, Nov. 22, 2021 (GLOBE NEWSWIRE) — November 22, 2021 – Nicola Wealth Real Estate (NWRE) has acquired two modern multi-tenant industrial properties known as Chatfield Distribution Centre in Littleton, CO and 4700 South Santa Fe Portfolio in Englewood, CO. Both transactions, brokered by TJ Smith and his team at Colliers, expands NWRE’s presence in an important US market.
The acquisitions total 158,545 sf on 10.56 acres spread across the two assets that are synergistically located five miles apart. The multi-tenant buildings are currently 98% leased at below-market rental rates with a very strong occupancy history, providing an excellent opportunity to grow revenue.
“These are the third and fourth properties in our Denver portfolio, one of the strongest industrial markets in the US,” highlights Matthew Schaeffers, Director of Acquisitions at Nicola Wealth Real Estate. “This acquisition presents an opportunity to add well-located and highly functional industrial product in a strong industrial node to execute on our cluster strategy.”
“The Chatfield Distribution Centre and the South Santa Fe Portfolio are located in Denver’s dynamic South Central industrial submarket featuring highly functional and complementary small-mid bay light industrial and flex product,” Schaeffers adds. “We’re excited to acquire these two properties in the competitive Denver market, and are committed to pursuing more opportunities of this kind.”
NWRE continues to concentrate its growth in major US markets such as Las Vegas, Phoenix, Dallas, San Francisco, Minneapolis, Seattle, and Denver with a focus on acquiring income-producing properties and executing development and value-add strategies.
To learn more about the Nicola Wealth Real Estate funds, visit realestate.nicolawealth.com
About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with over $11.0 billion (CAD) of assets under management (AUM). NWRE has an experienced and innovative team that sources and asset-manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail, and seniors housing. With the acquisition of Blackwood Partners, the current NWRE portfolio now exceeds $7.0 billion gross asset value.