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In The News
April 2010
NAT Announces $200m Investment in Cross-Dock Truck Terminal Facilities
NorthAmerican Terminals Management, LLC (NAT) is investing $200 million in cross-dock truck terminal facilities to be acquired and leased to industry leading LTL trucking companies on a long term basis. Benefits to LTL carriers include (i) retaining long term control of key network facilities, (ii) realizing 100% of an asset’s value for growth or balance sheet capitalization, (iii) matching longterm financing with longterm operating leases and (iv) recycling value from assets with low depreciable basis. Properties are to be in desirable industrial markets, are to be leased at market door rates, and should be in good physical condition. Locations should be mission-critical to an operator’s network.
Deal Summary:
Program:
Pricing:
Lease Term:
Property Type:
Locations:
Tenancy:
Financing: |
$200 million for acquisitions
8.5% – 12.5% cap rates on prevailing market rents
10, 12, 15 year terms; annual escalations
Cross-docked terminal; minimum 20 dock-high doors; < 10 dock doors per acre
Desirable industrial markets
LTL, public & private, all credits
100% equity purchase |
For additional information, contact Paul Underwood, Vice President, 410.280.1100.
For completion information, download the program summary.
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