Cincinnati Firm Buys $50M Real Estate Portfolio
Details of the $50M Acquisition In a significant transaction, Viking Partners, a Cincinnati-based firm, has completed a $50 million acquisition of a substantial real estate portfolio located in Florida. The acquisition process focused on securing an off-market, value-add deal. This strategic move encompasses a meticulous portfolio overview, representing 409,000 square feet of industrial space within 30 multi-tenant buildings. These structures are spread across four industrial parks in Daytona Beach and Vero Beach. Designed to accommodate various tenant needs, the buildings offer diverse suite sizes and layouts. The portfolio supports the growing demand for industrial properties, capitalizing on Florida's robust economic conditions. Furthermore, this acquisition is notable as foreclosure filings have increased by 45%, creating a competitive landscape for real estate transactions. Additionally, Viking Partners' approach is reminiscent of Diamond Properties' acquisition in Oh...