Excelsior Capital Acquires 99,878 SF Three-Building, Multi-Tenant Flex Portfolio in Chattanooga, TN
For Immediate Release
Contact: William George VP of Investments & Asset Management | email@example.com
CHATTANOOGA, TENNESSEE | April 2021 | Excelsior Capital announces their second acquisition of 2021- a 99,878 square foot multi-tenant flex asset located in the dynamic Chattanooga market. The original building was constructed in 1988 and the other two were added in 2003 and 2006.
The portfolio will be 92.5% occupied at closing with a diverse rent roll of quality tenants.
"We are super excited to close on our first acquisition in Chattanooga. While we haven't owned there previously, it's a place we are very familiar with given its proximity to Nashville, and it's a market we hope to keep growing our presence in. With respect to the Friar's Crossing asset, we love the location as well as the tenants, and we look forward to partnering with them going forward.” William George, VP of Investments & Asset Management at Excelsior Capital
About Excelsior Capital Excelsior Capital is a real estate private equity sponsor based in Nashville, TN that specializes in yield generation by primarily focusing on stabilized income and capital preservation. Excelsior’s strategy centers around the belief that real estate assets are undervalued in secondary markets that possess strong underlying economic fundamentals. Within these MSA’s, they target stable assets that are located in healthy submarkets and have a strong history of occupancy. To capitalize on this strategy, we focus on assets in the $10M-$25M range, which are often overlooked by institutional investors.
“The Chattanooga story is strong, which is why we are attracting successful investment companies like Excelsior Captial. NAI Charter is excited to be working with the Excelsior team for property management and leasing.” David F. DeVaney of NAI Charter Real Estate Corp
About NAI Charter
Founded in 1972, NAI Charter is Chattanooga's premier commercial real estate service provider. Combined, our staff of six full-time brokers offers more than 100 years of experience! Two brokers hold the SIOR designation and two hold the CCIM designation. NAI Charter's national resources and local knowledge help us exceed expectations by delivering finely tuned, premium services. We also offer a full-service property management division, Charter Management Company, that currently manages 32 commercial properties totaling over 835,000 SF. For more information, visit www.naicharter.com.