ElmTree Funds, a St. Louis-based private equity real estate firm, has opened two new industrial funds, and for the initial investment, the REITs acquired an industrial property located in St. Louis. The funds, called ElmTree Industrial Trust Inc. and ElmTree Industrial Access Trust Inc., are “perpetual life” funds, or open-ended, according to the firm.
The funds intend to acquire and actively manage a diversified portfolio of net lease industrial properties across the United States. The REITs will offer an unlimited number of shares to accredited investors at an initial purchase price of $1,000 per share. ElmTree Industrial Trust is available to registered investment advisors, and ElmTree Industrial Access Trust is available to independent broker-dealers.
“Industrial real estate has long been a cornerstone of the U.S. economy, and we believe the sector’s strong fundamentals will remain attractive over the long term,” said James G. Koman, ElmTree’s CEO and founder.
