CBRE Arranges $100 Million in Recapitalization for National 36-Property Industrial Service Facility Portfolio

CBRE has arranged a $100 million recapitalization of a 36-property industrial service facility portfolio in a joint venture between Wayzata, Minnesota-based Moir Park Capital and Eden Prairie, Minnesota-based Hempel Real Estate.

Judd Welliver, Bentley Smith, Michael Caprile, Ryan Bain, Zachary Graham, Joseph Horrigan, Will Pike and Victoria Gomez with CBRE National Partners represented Moir Park Capital in the transaction.

“Industrial service facilities are the new wave of industrial real estate,” said Welliver. “They are mission-critical industrial properties providing an outdoor storage component coupled with zoning that allows for a wide range of industrial uses. Matt Schliep is the domain expert in this asset class and he and his team at Moir Park are pioneers in the space. This portfolio was one of the most highly sought-after offerings we’ve worked on which is a testament to Moir Park’s talent and strategy.”

This portfolio includes industrial assets across 20 states totaling 201 acres and nearly 630,000 square feet. All 36 properties are currently 100% occupied by eight tenants averaging over 19 years in tenure. Tenants include United Rentals, Gerber Collision & Glass, Kaige Kubota, Caliber Collision, Sunbelt Rentals, Home Depot, Cummins and H&E Equipment Services.

“We're pleased to partner with Hempel Real Estate given their expertise and access to capital on this portfolio which include many best-in-class industrial properties across the U.S.,” said Matt Schliep, Founder, Moir Park Capital. “I look forward to continuing to employ our differentiated investment strategy to continue to source and pursue quality real estate assets that meet the investment objectives of Moir Park and its partners.”

Moir Park was founded in 2017 by Matt Schliep. Managing two closed funds, Moir Park Properties LLC and Moir Park Properties II LP, the firm specializes in industrial service facilities. With a focus on properties featuring outside storage and specific tenant profiles, Moir Park's portfolio consists over 60 strategically positioned assets across the U.S.

Moir Park’s investment process allows the Fund to source, underwrite and acquire compelling off- and on-market transactions. Moir Park’s experience in the strategy has created a disciplined process backed by a proprietary network of relationships to find and diligence industrial properties tenanted by regional or national tenants with strong site-level fundamentals.