Aminim Group Obtains $53M for Industrial Portfolio Buy

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Aminim Group, a Houston-based privately held, commercial real estate investment firm, received $53 million in financing to acquire six industrial properties totaling nearly 500,000 square feet in the Baltimore-Washington, D.C.,- area.

CIT, a division of First Citizens Bank, and its Real Estate Finance business served as the lead arranger on the transaction. Details on the financing and the locations of the properties were not disclosed.

While neither CIT nor Aminim Group confirmed the sites, Aminim Group has six industrial properties listed on its website that were recently acquired in the region. They are: Upper Marlboro Distribution Center I, Washington, D.C., metro, 210,000 square feet; Upper Marlboro Distribution Center II, 102,000 square feet; Severn Logistics Facility I, Baltimore, adjacent to BWI Airport, 34,429 square feet; Severn Logistics Facility II, 44,654 square feet; Severn Logistics Facility III, 44,956 square feet; and Odenton Light Industrial, Baltimore, 57,040 square feet, I-97 location, near BWI Airport.

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CIT noted the properties have easy access to major transportation centers and strong lease agreements with existing tenants.

Nir Kriel, CEO of Aminim Group and the Apexus Logistics discretionary fund, said in a prepared statement demand is strong for logistics facilities in the Mid-Atlantic region. He said the portfolio is well positioned to support that market demand. Kriel noted the investment firm has partnered with CIT in the past and was pleased by the expertise and agility demonstrated in arranging the financing for the acquisition.

CIT’s Real Estate Finance business, part of the Commercial Finance group, originates and underwrites senior secured real estate transactions. The group provides financing for single properties and property portfolios.

Chris Niederpruem, managing director and group head for CIT’s Real Estate Finance business, said in prepared remarks Aminim Group is continuing to grow its reputation for smart and successful real estate investments across the country.

Within the last two years alone, the company has purchased more than 3 million square feet of logistics, industrial and other commercial space in the U.S. Separately, the firm acquired more than 10,000 multifamily apartment units since it was established in 1996.

In a deal reported in April, CIT’s Real Estate Finance provided a $37.2 million loan to Aminim Group for the acquisition of a bulk distribution facility in downtown Pittsburgh. The property has more than 510,000 square feet of space and is fully leased to Amazon and Nogin.

Last March, Aminim Group acquired a 313,000-square-foot industrial facility in Halethorpe, Md., from The O’Donnell Group in a deal arranged by JLL. The sale price was not disclosed. Located at the northern end of the Baltimore-Washington Corridor, the building is less than 3 miles from the intersection of Interstates 95 and 695. The property was fully leased at the time of the sale.