By CJ Follini | Noyack Capital
August 09, 2022
NOYACK Logistics Income REIT Inaugural Close
New York, NY (August 9, 2022) – Noyack Capital (NOYACK) announced the inaugural closing of Noyack Logistics Income REIT I, Inc. (NLI) with a $37 million initial raise proving its attractiveness to accredited investors interested in high yield, low volatility, and optimal inflation protection.
NLI invests in a diversified approach focused on all commercial real estate supporting America’s supply chain, including: cold storage facilities, giant dry warehouses, medical office buildings, life sciences labs and parking lot conversions into hybrid facilities known as Mobility Hubs.
Sponsored by NOYACK, NLI is a uniquely innovative public company registered with the SEC and structured as a tax-advantaged real estate investment trust.
NLI key points of differentiation:
“Our focus on the future of America’s supply chain real estate is driven by our thesis that logistics assets are undervalued relative to the market maturity of ecommerce and that they offer asymmetric risk–reward potential,” observes CJ Follini, managing partner of Noyack Capital, NLI’s external manager.
NLI avoids overvalued assets by using a tremendous amount of data to triangulate price anomalies across all supply chain properties, while many of the biggest investors – Prologis, Blackstone or KKR – get caught by the essential real estate question: Why keep buying plain warehouses when they are too expensive, just because of self-imposed restrictions holding their portfolio to that one asset type?
NLI’s approach is different; it uses asset diversification of high-yielding, stabilized assets and then refinances them to add additional cash flow to a conservative leverage of 65%. This strategy allows NLI to target a 20% annual rate of returns and 6% preferred returns each year without the industry-standard fees of more than 3%.
“Recent disruption and technological advances have identified new values that we see driving the potential for superior returns,” Follini said. “And from our experience over three decades, we created PropertyQuotient™ and MarketQuotient™, proprietary underwriting analytics which consider over 50 data points enabling us to price potential acquisitions more accurately than our competitors. We concern ourselves with next mile assets while others are still on last mile.”
Noyack Logistics Income REIT previously announced plans to invest approximately $200 million in logistics real estate but with NLI’s UPREIT acquisition program tailored to non-institutional commercial real estate owners, this could increase the REIT’s net asset value beyond $1 billion.
NLI’s share offering follows Noyack Capital’s successful listing of Gateway Garage Partners LLC (OTCMKTS: GWYGU), the first ever IPO of an individual real estate asset, in 2021.
Lauren Mire +1 646 389 4636 Lauren@NOYACKcapital.com
ABOUT NOYACK CAPITAL
NOYACK Capital was borne out of the transformation of a successful multi-family office with the stated mission of revolutionizing the $89 trillion total addressable market of private investments by creating total accessibility for all investors to these institutional-grade investments; Main Street instead of Wall Street. Over 28 years, NOYACK Capital has returned an average 22.4% annually, generated $2.4BN development value on invested property and yielded a 5.3X average equity multiple. #businessforhumans™
DISCLOSURES This announcement does not constitute an offer to sell or solicitation of any offer to buy securities. Offers for the sale of securities will only be made pursuant to NLI’s confidential Private Placement Memorandum (the “PPM”). A full copy of the PPM is available to all qualified accredited and institutional investors at www.noyacklogistics.com. Noyack Logistics Income REIT, Inc., will function as a newly formed Maryland corporation offering up to $100,000,000 in shares of its common stock upon the terms and subject to the conditions set forth in its PPM for qualified, accredited investors and institutions. As an UpREIT, NLI will own substantially all of its assets and conduct substantially all of its operations through NL REIT OP, LP, its Operating Partnership. NLI, as the sole general partner of the Operating Partnership, has exclusive control over the Operating Partnership. NLI is externally managed, meaning its day-to-day operations are managed by its external manager, Noyack Capital Partners LLC. THE SECURITIES DESCRIBED IN THIS ANNOUNCEMENT HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH STATE LAWS. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND SUCH APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREUNDER. THERE IS NO PUBLIC OR OTHER MARKET FOR THESE INTERESTS, NOR IS IT LIKELY THAT ANY SUCH MARKET WILL DEVELOP. THEREFORE, INVESTORS MUST EXPECT TO BE REQUIRED TO RETAIN OWNERSHIP OF THE SECURITIES AND BEAR THE FINANCIAL RISKS OF THIS INVESTMENT, INCLUDING TOTAL LOSS, FOR AN INDEFINITE PERIOD OF TIME.
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