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Principal Asset Management Acquires Logistics Asset in Florida for $54.6 Million

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Osceola Logistics Center Kissimmee Florida

Principal Asset Management has announced the acquisition of a newly developed and fully leased logistics asset in the United States. The transaction was completed for a total of $54.6 million (approximately €49.8 million).

The property, known as Osceola Logistics Center, is located in Kissimmee, Florida. It comprises two distribution facilities, which measure 147,000 square feet and 133,000 square feet respectively. Principal Asset Management acquired the asset from InLight Real Estate Partners and Black Salmon.

Jim Halliwell, the head of private real estate alternatives at Principal Asset Management, expressed enthusiasm about the acquisition. “This is a fantastic acquisition, providing us with a new, triple-net-leased logistics asset positioned in an excellent submarket,” Halliwell stated. “The acquisition of this cold storage property dovetails with our strategy of increasing our clients’ exposure to alternative sectors with strong fundamentals. Our focus remains on acquiring value-accretive assets with the goal to provide stable returns for our investors.”

Rachel Adams

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