Capri EGM, an investment company specializing in corporate sale leaseback and build-to-suit financing, has entered into an agreement to provide build-to-suit financing and acquire a build-to-suit distribution facility for the North American subsidiary of Koninklijke Philips N.V., a global technology company with primary divisions focused on electronics, health care and lighting.
The company's Philips Respironics business unit will work out of the new build-to-suit facility under a long-term net lease. The distribution facility is located southeast of Pittsburgh in Westmoreland County, near the Philips manufacturing facility and main campus.
"This build-to-suit structure and acquisition of the Philips Distribution Facility highlights how Capri EGM's ability to work with developers early in a process to structure a solution that works for all parties makes us an attractive alternative source of long-term capital for developers and creditworthy growing companies," said Shelby Pruett, Capri EGM's co-chairman and chief executive officer. "By unlocking value through creative structuring and capital efficiency, we are committed to building long-term value for our institutional and corporate partners."
The acquisition and build-to-suit afford Capri EGM the opportunity to invest in assets that are consistent with its established strategy, providing durable cash flows, escalating annual rents, and attractive risk-adjusted returns over time and across a variety of market conditions and economic cycles.
Capri EGM is based in Chicago.