Bridge Net Lease announced that it has acquired two off-market manufacturing and distribution assets located in Hazleton, PA, totaling 283,450 square feet. The assets, located at the intersection of two critical interstate highways, are 100% leased on 15-year absolute net leases with two additional 5-year options. The mission critical assets serve as the tenant’s sole US manufacturing and distribution facilities. The transaction was brokered by the CBRE National Partners Northeast team consisting of Mike Hines, Brian Fiumara, Brad Ruppel, Joe Hill, and Lauren Dawicki, along with Vincent Ranalli and Tony Gruenling.

“The investment is representative of our investment thesis of acquiring mission critical assets leased on a long-term basis to credit-worthy tenants in all material respects. The 15-year sale-leaseback of two manufacturing and distribution facilities for a packaging systems manufacturer should provide stable cash flow to our LPs. The properties sit directly on I-81 (40,000 cars a day) and are minutes away from the intersection of I-81 & I-80, providing an equidistant connection to New York City and Philadelphia (2.5 hours) and making them strategically located within a 4-hour drive to over 50 million people.” said Brandon Flickinger, Co-Chief Investment Officer of Bridge Net Lease.

About Bridge Net Lease

Bridge Net Lease manages the industrial net lease strategy of Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”). Bridge Net Lease is led by CEO Mike Sodo and Co-CIOs Matt Tucker and Brandon Flickinger. Since launching in July 2021, Bridge Net Lease has invested over $700 million into industrial net lease warehouse properties and build-to-suit development projects, including logistics, manufacturing, distribution and cold storage assets located in primary and logistically connected prime growth markets throughout the US, totaling more than 5.85 million square feet. Bridge Net Lease is based in Arlington, VA with presence in Chicago, IL and Phoenix, AZ.

About Bridge Investment Group

Bridge is a leading, alternative investment manager, diversified across specialized asset classes, with approximately $48.8 billion of assets under management as of March 31, 2023. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. verticals across real estate, credit, renewable energy and secondaries strategies.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical facts may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “outlook,” “could,” “believes,” “expects,” “potential,” “opportunity,” “continues,” “may,” “will,” “should,” “over time,” “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “foresees” or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that any such forward-looking statements are based on our beliefs, assumptions and expectations as of the date made, taking into account all information available to us at that time. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Actual results may differ materially from those express or implied in the forward-looking statements as a result of a number of factors, including but not limited to those risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge undertakes no duty to publicly update any forward-looking statements made herein or otherwise, whether as a result of new information, future developments or otherwise, except as required by law. Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of the Company or any investment fund managed by the Company or its affiliates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230601005721/en/