CHICAGO, IL – December 20, 2019 – STREAM Capital Partners (“STREAM”), a national net lease and sale-leaseback advisory group, recently executed the sale leaseback for a 148,000-square-foot industrial property in Montgomery, Illinois.
Jonathan Wolfe and Jordan Shtulman, Managing Principals of STREAM, led the transaction on behalf of the seller, Midwest Siding Supply and Midwest Window & Door (“Midwest”). This transaction enables Midwest to pay down debt and to use the remaining proceeds as working capital to continue growing its business. The buyer was a public REIT.
Wolfe said about the transaction, “We are very happy for the Seller, Midwest Siding Supply and Midwest Window & Door. This transaction enables them to redeploy fresh capital into the business without having to raise additional equity or debt.”
Wolfe continued, “As a growing, healthy company, they undertook this transaction at a great time in the industrial sale leaseback market, given the positive fundamentals for industrial properties in the Chicago area industrial market and the amount of capital chasing industrial properties under long-term leases.”
Said Shtulman, “This transaction further underpins the strength of the overall industrial sale leaseback market. We expect more and more middle market and lower middle market companies to monetize real estate in sale leasebacks. The values and subsequent benefits are highly attractive for these businesses.”
Shawn Enoch, Vice President at Midwest, added, “We could not be happier with this transaction. As a growing business, our 40+ years of hard work and effort continue to pay off. Growth requires additional capital and the sale leaseback option emerged as the smartest option for the company.”
Enoch continued, “This transaction allowed Midwest to unlock the equity trapped in the property giving us the ability to deploy that cash as investment into today’s growth, future growth and cash reserves.”
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