Boston-based Paradigm Capital Advisors will now seek to acquire individual buildings and small portfolios of industrial properties in the Northeast and Mid-Atlantic.
The group of investors, Paradigm Industrial Partners I, has formed in partnership with a U.S.-based insurance company and other investment partners.
The preferred properties will meet the following criteria:
- 30,000 square feet – 600,000 square feet
- $2 million to $30 million
- Single- or multi-tenanted
- Urban/inner ring or suburban in-fill locations
- Small bay distribution, service or light manufacturing
Flex/R&D properties will also be considered if in strong in-fill locations, according to a statement.
"In a tough capital raising environment, we’re delighted to put together a group of investors who see the opportunity in the industrial sector," said Kevin McCall, president and CEO of Paradigm Capital Advisors and its management affiliate, Paradigm Properties. "In other parts of the market, we are not excited about recent pricing and believe the weight of capital is inflating values despite the general weakness in the economy. Paradigm Industrial Partners I will continue the direction of our last fund, APCA Property Fund I, in focusing on the relative safety and opportunity for strong, risk-adjusted returns in industrial."
