INDUS Realty Trust Expands Portfolio Significantly in 2024

INDUS Realty Trust Makes Significant Progress in 2024

INDUS Realty Trust, Inc. (“INDUS” or the “Company”) has recently announced an impressive update on its activities for 2024, showcasing its robust growth trajectory. The company, known for its focus on logistics real estate, has expanded its portfolio to include 71 properties and ongoing projects that total an impressive 13.6 million square feet. This highlights a remarkable 87.3% increase in INDUS’ portfolio since the beginning of 2024.

Highlights of INDUS’ Recent Activity

Among the notable achievements in 2024 are the following key activities:

Major Acquisitions

INDUS has acquired a majority interest in a substantial 4,304,000 square foot portfolio, which consists of 21 buildings strategically located in the Charlotte and Charleston markets. Additionally, the company has added properties that total 941,000 square feet in Jacksonville and Phoenix.

Construction and Development

The company has also commenced construction on five new buildings that together will add 1,099,000 square feet to its industrial spaces in burgeoning markets such as Atlanta, Savannah, and Lehigh Valley. With a future development pipeline consisting of eight additional buildings that will encompass another 1,363,000 square feet, INDUS demonstrates its commitment to expanding its operational footprint.

Strong Financial Position

INDUS has successfully completed debt financings and established credit facilities that amount to a total of $622.4 million, ensuring sufficient capital to support its growth initiatives. Moreover, the company has signed 16 new, renewal, and expansion leases, totaling 835,000 square feet, which reinforces its leasing strategy.

Impressive Leasing Metrics

As of year-end 2024, INDUS’s same-store portfolio was effectively leased at 98.7%, showcasing its competitiveness and demand within the market. This number remains strong at 93.4% across all in-service buildings, indicating a persistent tenant interest in its properties.

Leadership Insight

Michael Gamzon, President and CEO of INDUS, stated that, “Our strong leasing activity in 2024 highlights the quality of our portfolio and our ability to meet the evolving needs of our tenants.” He emphasized that these strategic transactions reflect not only the resilience of the industrial real estate sector but also INDUS’ dedication to providing well-located and well-designed spaces that cater to tenant demands.

Strategic Market Expansion

In its expansion journey, INDUS has managed to close on the acquisition of 23 buildings collectively amounting to 5,245,000 square feet, while maintaining ongoing construction on an additional 1,099,000 square feet. Mr. Gamzon also noted the company’s growth trajectory since going private, stating, “Since we were taken private, we have grown our portfolio over 87% and expanded our pipeline of future developments.”

About INDUS Realty Trust, Inc.

INDUS Realty Trust, Inc. is primarily dedicated to the development, acquisition, management, and leasing of industrial properties. As noted, the company holds or has majority ownership in properties and projects under development aggregating 13.6 million square feet. Its portfolio spans across various states including North Carolina, South Carolina, Connecticut, Pennsylvania, Florida, Georgia, Arizona, and Tennessee. INDUS is backed by affiliates of Centerbridge Partners, GIC, and the Abu Dhabi Investment Authority (ADIA), making it well-positioned to explore further investments in high-growth markets across the United States.

Frequently Asked Questions

What are the recent acquisitions made by INDUS Realty Trust?

INDUS has acquired a majority interest in a 4,304,000 square foot portfolio in Charlotte and Charleston, along with properties in Jacksonville and Phoenix.

How much has INDUS expanded its portfolio in 2024?

INDUS has expanded its portfolio by 87.3% since the start of 2024.

What construction projects is INDUS currently engaged in?

The company is currently constructing five buildings totaling 1,099,000 square feet in key markets like Atlanta, Savannah, and Lehigh Valley.

What are INDUS' leasing performance metrics?

As of year-end 2024, INDUS reported a 98.7% leasing rate in its same-store portfolio.

Who are the main investors backing INDUS Realty Trust?

INDUS is backed by affiliates of Centerbridge Partners, GIC, and a subsidiary of ADIA, providing strong financial support for its growth initiatives.

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