The acquisition and build-to-suit afford Capri EGM the opportunity to invest in assets that are consistent with its established strategy. File photo
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.
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