![]() In addition to the assets, Prager agreed to sell the operating company as well that was established in 2010. With the majority of units spread across the southeast, the deal allows VineBrook Homes Trust to expand its presence in the Southeast. “We are thrilled to see the success of our partnership with The Prager Group,” said Matt Shulman, CEO at Ardent. Since the initial partnership with Ardent in 2017, Prager has sourced and managed additional portfolios to continue growth under the joint venture and realized strong investor returns with the portfolio sale. Prager was established in 2009 and formed a Co-GP joint venture with Atlanta-based Ardent, an asset management firm focused on debt and equity investment, in January 2017. VineBrook, a private real estate investment trust, will acquire the companies’ entire portfolio of single-family residential assets. VineBrook Acquires Single-Family Portfolio Held by The Ardent Companies and The Prager GroupĪ joint venture between The Prager Group (“Prager”) and The Ardent Companies (“Ardent”) announces the sale of just under 3,000 single-family rental homes to VineBrook Homes Trust, in a deal totaling $350 million. The fundamentals of this sector continue to be very attractive – the granular, diversified exposure coupled with significant asset management potential offered by this portfolio make this a very compelling lending opportunity, and we look forward to helping Ardent UK grow with additional acquisitions.” James Wright, head of real estate at AgFe, added: “AgFe is very pleased to be working with JLL and Ardent UK, and supporting the growth of their UK industrials portfolio over the next few years. It is exciting to establish a new relationship with AgFe and we look forward to deploying this facility with further acquisitions of strategically-located assets with strong leasing fundamentals.” Richard Benson, managing director of Ardent UK, said: “This financing is a major step forward in the growth of Ardent UK’s industrial and logistics fund, reflecting the ongoing opportunities presented by the sector and the strength of our acquisition and asset management strategies. ![]() The four assets, acquired between December 2021 and February 2022, are: a 234,685- square-foot unit in Pickering, North Yorkshire a 50,124-square-foot unit in Peterlee, County Durham Tokenspire Business Park, a 305,885-square-foot multi-let estate in Beverley, East Riding of Yorkshire and a 18,841-square-foot unit at 717B North Circular Road in north west London. The loan represents 65% loan-to-value and has been provided for a three-year term. The senior loan was provided by AgFe on behalf of one of its European insurance account mandates. The financing also includes an accordion facility, which will enable Ardent UK to acquire more assets under the same strategy. The financing included an acquisition facility for a portfolio of four core industrial assets with an in-place occupancy of 99%, a weighted average unexpired lease term to break of 7.1 years, and a WAULT to expiry of 8.3 years. The Ardent Companies UK, the subsidiary of US-based real estate investment and asset management firm The Ardent Companies, has secured £100 million in acquisition and accordion financing for its UK Industrial and Logistics fund from AgFe. AgFe Grants Ardent UK £100 Million in Financing for Industrial and Logistics Fund
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