TriGate Capital Purchases Industrial Property in Tampa, Florida
DALLAS, TEXAS – TriGate Capital recently completed the acquisition of 8800 Adamo Drive, a 368,081 square foot industrial building within Tampa, Florida’s East Side submarket. The property was acquired from a national real estate investment company and represents TriGate’s second acquisition within the Tampa MSA.
TriGate’s Vice President, Adam Aultz, commented, “Located at a major crossroad on the east side of town, the investment offers TriGate the ability to acquire a well-located property that favors both last mile delivery and regional distribution. Given the low vacancy and lack of big block availability in the submarket, we believe the property is well positioned for immediate stabilization.”
TriGate Capital has been an active buyer in the state since entering the market in 2010, and the purchase of 8800 Adamo Drive represents its ninth transaction in the state. TriGate currently also owns property in Orlando, Miami and Deerfield Beach. TriGate expects to build on its industrial relationships in the market and is optimistic it can soon add more properties to its portfolio. Aultz added, “Long term, Florida is a growth market for TriGate and we are looking forward to future opportunities.”
About TriGate Capital
TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has completed investments throughout the United States.
TriGate manages three fully discretionary real estate funds, TriGate Property Partners, LP (Fund I), TriGate Property Partners II, LP (Fund II) and TriGate Property Partners III, L.P. (Fund III), which are the vehicles through which TriGate conducts its investment strategy. Fund I and Fund II are fully invested and Fund III is presently in its investment period.
TriGate’s team has been responsible for acquiring over $11 billion of real estate assets through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization. Additionally, the team has extensive expertise in real estate asset selection and structuring transactions to weather different stages in the real estate investment cycle.
Source: TriGate Capital