Park Avenue Real Estate LLC Completes the Acquisition of Two Manufacturing Facilities From Hollander Sleep Products

Park Avenue Real Estate LLC, a vehicle owned by BDCA and managed by Columbus Nova MB has closed on the acquisition of two manufacturing facilities leased to Hollander Sleep Products, a portfolio company of Sentinel Capital Partners.  Terms were not disclosed.  The facilities, based in Louisville and Munfordville, KY, manufacture pillows, comforters, and other top-of-bed products.

“Hollander is the #1 manufacturer of pillows and mattress pads in the world,” indicated Lon Brown at Columbus Nova, “and the Louisville and Munfordville facilities are integral pieces of the Company’s manufacturing footprint. Furthermore, Sentinel is widely recognized as a best in class middle market sponsor, and is a group that we have known for a long time”.

“Park Avenue RE was able to execute and deliver as promised and we look forward to working with them again,” said Garrett Schires at Sentinel Capital Partners.

Park Avenue RE invests in middle market sale-leaseback transactions and has offices in Charlotte, NC and New York, NY.  For information about Park Avenue RE or this transaction, please contact Lon Brown at +1 (704) 285-7756.

Columbus Nova MB (“CNMB”), with offices in Charlotte and New York, manages portfolios of real estate assets for a variety of investors in a separate account program. In addition, CNMB’s Advisory Group serves middle-market businesses by providing buy and sell-side, capital formation and restructuring services on a fee basis. Finally, CNMB manages the Baikal Program, which makes investments in growing businesses and in private equity funds.