Thu Jun 21st, 2018
GF Properties Group, the real estate investment division of the Southern Ute Indian Tribe Growth Fund, has announced the acquisition of two new industrial properties to its national real estate portfolio. The acquistions were conducted via the Tribe’s joint venture partnership with EverWest Real Estate Investors, and bring the total number of Tribal-owned industrial properties throughout the United States to nine. EverWest, based in Denver, Colo., is a top-ranked national real estate investment and advising firm. In 2013, GF Properties Group partnered with EverWest to research, identify and negotiate the strategic purchase of industrial properties that offer long-term investment opportunities for the Tribe.
The Hialeah Building, located in Hialeah Gardens just northwest of Miami, Fla. was purchased by the Tribe in April 2018. At just over 43,250 square feet, the Hialeah Building is a functional warehouse property situated on 1.82 acres with convenient access to two major state highways. As e-commerce activity and global trade continue to drive the industrial sector, Miami’s growing population and burgeoning commercial market constitute a desirable real estate investment for the Tribe.
More recently, Tribal Council authorized the purchase of the 78,000 square foot ProMach Building in Waukesha, Wisconsin (part of the Milwaukee metropolitan area) in May 2018. In researching new growth opportunities across the country, GF Properties Group identified the Metro Milwaukee area as a prime location based on current low unemployment rates and a resurging economy throughout the Midwest. The ProMach property is located in the Ridgeview Business Park, a 300-acre master-planned commercial complex considered among the best in the region thanks to its modern infrastructure, full-service amenities, and its adjacency to two Interstate highway exits. The ProMach Building is a strategic facility with global manufacturing, administrative, and packaging operations housed under one roof.
The acquisition of the Hialeah and ProMach Buildings reflect the Tribe’s commitment to establishing a geographically diverse portfolio of real estate properties. Industrial properties in particular offer a number of advantages from an investment standpoint including stable revenue streams for the Tribe, low maintenance costs, and flexibility to serve a broad range of commercial tenants in response to changing market forces. The acquisition also showcases the Tribe’s ability to leverage its resources and make sound, long-term business investments which in turn will benefit the Southern Ute tribal membership for generations to come.