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PowerOne Industrial Properties LP Announces Closing of US$45 Million Chicago Portfolio Acquisition

TORONTO, ONTARIO--(Marketwired - July 10, 2014) -

NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES

PowerOne Industrial Properties Limited Partnership ("PowerOne Industrial") has acquired a 920,000 square foot portfolio of industrial properties in Chicago, Illinois for approximately US$45 million. The portfolio includes distribution, light industrial and office/warehouse buildings, and comprises 14 buildings on 11 properties, all infill locations situated across six of Chicago's leading submarkets and centered around O'Hare International Airport. PowerOne Industrial is a private real estate investment platform, founded by The PowerOne Capital Group, SparrowHawk Real Estate Strategists and Corriente Partners, which was recently established with the goal of building a high-quality, stabilized portfolio of institutional grade properties throughout regional distribution markets in the United States, with a focus on the warehouse and distribution segment of the industrial market.

Pat DiCapo, Managing Director of The PowerOne Capital Group, said: "We are pleased by the closing of this acquisition. PowerOne Industrial was formed in partnership with an experienced leadership team and first-class operational expertise at SparrowHawk to invest in an attractive asset class with tremendous growth potential. We look forward to continuing to build out the platform consistent with our long-standing strategy for successfully building growth businesses in the real assets space. The Chicago portfolio, together with the recent acquisition in St. Louis, Missouri, is a solid foundation from which PowerOne Industrial will continue its broader objectives of complementary acquisitions in the US Midwest."

Alfredo Gutierrez, founder of SparrowHawk said: "The portfolio offers high quality, functional real estate with a strong and diverse tenant base and stable income. Strategically located in infill locations across six of the best performing submarkets in Chicago, the Portfolio offers investors the opportunity to enter or expand holdings in the second largest industrial market in the United States, while providing a geographic diversification among the top submarkets. The portfolio contains a broad mix of industrial facilities including distribution, warehouse and office/warehouse buildings to meet the needs of all sectors of the market. The combination of single-tenant and multi-tenant assets, coupled with the ideal size, appropriate clear heights, depths and finish allow the portfolio to best serve the needs of the broadest tenant audience in the market."

About The PowerOne Capital Group

The PowerOne Capital Group, based in Toronto, Ontario, is a diversified merchant capital business focused on providing early stag e capital and advisory services to emerging growth companies globally. Since inception in 2003, PowerOne has been involved in over 300 transactions, providing financing and advisory services to companies involving over 2 billion dollars. For more information on The PowerOne Group visit www.poweronecapital.com.

About SparrowHawk Real Estate Strategists

SparrowHawk Real Estate Strategists is a privately held industrial real estate firm headquartered in Houston, Texas. SparrowHawk specializes in the acquisition, management, enhancement and disposition of quality industrial properties throughout the continental United States, for the benefit of institutional investors, broker and tenants.

About Corriente Partners

Corriente Partners is a privately held investment firm headquartered in Dallas, Texas and Telluride, Colorado specializing in capital formation for the real estate and financial services industries

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