INDIANAPOLIS (Inside INdiana Business) — An Indianapolis-based private real estate investment firm is expanding its footprint. i3 Investors says it has acquired a six-building, core-plus industrial property in Cincinnati, with plans for additional acquisitions over the next two years that will more than double its portfolio.
Financial terms of i3’s acquisition were not disclosed. The firm says with the acquisition, its portfolio now includes 1.5 million square feet of space throughout the Midwest, occupied by more than 80 tenants.
“Despite many sectors of commercial real estate being negatively impacted during these unparalleled times, our industrial portfolio continues to perform well,” said Matt Dickerson, co-founder of i3 Investors. “The time is right for us to look for opportunities to expand our footprint and further diversify our portfolio.”
Dickerson founded i3 Investors along with Chip Barnes. Both partners recently left Chicago-based JLL where they served as industrial advisors in order to focus on growing i3.
The firm says part of its expansion plans includes acquisitions in the southeastern part of the country.
“We are committed to growing i3 Investors in a way that provides consistent returns to our investors and unmatched service to our tenants,” said Barnes. “By expanding into markets such as Charlotte, Tampa and Atlanta we are able to identify additional opportunities in key industrial markets that will provide geographic diversification in high growth markets for our investors.”