Park Avenue RE Holdings LLC Acquires Packaging Portfolio
Sale-leaseback of 4 high-production, strategically located assets with 20-year lease term
Columbus Nova MB LLC, manager of Park Ave RE Holdings, LLC (“PARE”), announced today that it has entered into a sale-leaseback transaction for a portfolio of four packaging and container manufacturing facilities with D&W Fine Pack LLC (“D&W), a Mid Oaks Investments portfolio company. PARE is a portfolio company of Business Development Corporation of America (“BDCA”), and was specially formed to invest in mission-critical sale-leaseback transactions single-tenant net lease properties associated with the middle market private equity community.
D&W Fine Pack provides a wide range of products serving the foodservice and food packaging industry. With eleven facilities in the United States, D&W is well positioned to offer customers exceptional service and support. The four sale-leaseback facilities are strategically located in and around four regional U.S. distribution hubs — Indianapolis, IN, Los Angeles, CA, Chicago, IL and Greenville, SC — and are among the best performing in D&W’s production footprint.
Waldo Bradley, Vice President at Columbus Nova MB, commented: “We are pleased to expand our net lease portfolio through this acquisition, which contributes to our growing presence in packaging and disposables manufacturing and adds solid, long-term net leased manufacturing assets to our holdings. This transaction is a further example of our focus on acquiring high-performing, strategically-located assets from industry leading tenants to create long-term value for our portfolio.”
Dave Crouch, Managing Director at Mid Oaks Investments, commented: “With an investment holding period longer than traditional private equity firms, both Mid Oaks and our management team wanted to work with the right long-term business partner for our sale-leaseback transaction. We found that in the Columbus Nova MB team as they dedicated a full team and a tremendous amount of time to understand D&W’s business and management team. The CN team was professional in every aspect of their execution and maintained an open line of communication the entire time.”
Columbus Nova MB
Please visit http://www.columbusnovamb.com/ for more information about Columbus Nova MB and to access our informational library on sale-leaseback transactions. PARE invests in middle market sale-leaseback transactions and has offices in Charlotte, NC and New York, NY. For information about PARE or this transaction, please contact Amos Beason +1 (704) 285-7750 or Lon Brown at +1 (704) 285-7756.
Columbus Nova MB LLC, with offices in Charlotte, New York, manages portfolios of real estate assets for a variety of investors in a separate account program. CNMB’s Advisory Group serves middle market businesses by providing buy and sell-side, capital formation and restructuring services on a fee basis. CNMB also manages the Baikal Program, which makes investments in growing businesses and in private equity funds.