Goldman Sachs’ Classic Funds is rising its allocation to internet lease methods with a $50 million strategic most well-liked funding in 4 Springs Capital Belief.
4 Springs Capital Belief, a REIT that owns a internet leased industrial, medical, workplace, and necessity retail properties all through the US, will use the Classic Funds funding to offer liquidity to an present investor and to develop its actual property portfolio, the corporate mentioned.
“Four Springs Capital Trust is a late stage private company with a strong management team that is focused on building a portfolio of defensive, income-producing net leased real estate,” mentioned Sean Brenan, managing director at Goldman Sachs in ready remarks. “We see the opportunity for growth and durable income from their platform, and are excited to be an investment partner.”
The 4 Springs funding is the most recent in a string of forays the agency has made within the internet lease area. In May 2020, Goldman Sachs introduced it had raised its second devoted actual property secondaries agency, Classic Actual Property Companions II, with $2.75 in capital commitments.
In August, Classic Funds closed on a $229 million most well-liked funding in a portfolio of Colony Credit score Actual Property investments, with the preliminary 200 million allotted to 5 underlying CLNC investments pursuits together with one wholly-owned triple-net industrial distribution funding leased to a nationwide grocery chain and 4 co-investments.
Goldman additionally made a strategic funding in last-mile logistics actual property final 12 months