ATCAP Partners aggregated a 1,361,820 square-foot institutional quality portfolio consisting of 13 buildings acquired in 7 separate transactions. Located in 4 markets, the aggregation strategy was implemented from March 2020 – December 2021 with the majority of the acquisitions taking place during the height of the COVID-19 pandemic.
ATCAP’s business plan was to buy well-located assets with a strong mark to market play at a significant discount to replacement cost in conjunction with the implementation of a targeted capital improvement plan. Focusing on smaller cap deals provided ATCAP the opportunity to buy quality assets that were overlooked by traditional institutional buyers due to total deal size. The geographical mix of primary and secondary markets diversified risk, bolstered going-in yields, and lowered the average price per square foot of the portfolio.
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