By | Morningstar
October 10, 2021
NOYACK Capital (NOYACK) announces the launch of Noyack Logistics Income REIT (NLI), a holistic, future-focused private fund targeting logistics-relevant commercial real estate ownership.
NOYACK Capital (NOYACK) announces the launch of Noyack Logistics Income REIT (NLI), a holistic, future-focused private fund targeting logistics-relevant commercial real estate ownership. Its investments will be driven by a disruptive acquisition strategy informed by emerging needs for driverless car infrastructure, same day delivery, climate-controlled storage and other rapidly evolving logistics uses. Currently a private investment fund, NLI intends to qualify as a real estate investment trust, or REIT, commencing with its taxable year ending December 31, 2022, and is structured as an umbrella partnership REIT, commonly called an “UPREIT.”
NLI will target four key asset classes: Mobility hubs (a newly defined property type that merges structured parking with amenities such as driverless car portals and charging, package lockers and grocery cold storage), cold storage warehousing, dry warehousing, and healthcare.
“Our focus on mobility hubs and other future-forward logistics infrastructure is driven by our point-of-view that these logistics assets are undervalued relative to the market maturity of ecommerce and that they offer asymmetric risk–reward potential,” observes CJ Follini, managing partner.
Designed by investors for investors, NOYACK is a private investment manager founded by family office principals including Follini. NOYACK will seed the UPREIT with an estimated $30 million of its principal-owned industrial and parking assets, creating near-term dividend opportunities. NOYACK has developed NLI’s TripleZero™ fee structure as one of the lowest in the REIT industry; investors are expected to receive 100% of invested capital and a 15% IRR before NOYACK, as external manager, earns any incentive bonus from the profits.
“Our plans for Noyack Logistics Income REIT (NLI) include investing in approximately $500 million of future-forward logistics properties serving consumer and supply chain demands of the 2020s and beyond,” explains Follini. “Recent disruption and technological advances have identified new value we see driving the potential for superior returns. Our proprietary market analytics look beyond the needs we know about for today’s last mile. They anticipate next-mile imperatives for real estate agile enough to adapt to cultural shifts and new technology.”
NOYACK will oversee the initial subscription period commencing immediately through a Private Placement Memorandum available to accredited investors at www.noyacklogistics.com and will also oversee operations of the new UPREIT as external manager. Originally founded by Follini in 2005 to represent and manage investments as a Multi-Family Office, NOYACK has managed over $1.0 billion of alternative real estate and venture capital assets, including assembling and disposing of a $300 million portfolio of healthcare properties.
As managing partner of NOYACK and the investment manager of his own family office investments across multiple alternative investment sectors including real estate, Follini’s deep experience crosses more than three decades and sectors from real estate to media and venture capital. Follini and his team will use their proprietary analytic to identify specialized assets meeting future-forward logistics realities such as increasing demand for specialized cold storage facilities serving food, grocery and healthcare; mobility hubs for autonomous vehicle parking and local delivery; package lockers; and other emerging needs of a modern screen-to-door economy.
NOYACK Capital is a private investment firm established in 2005 to manage the investments of a group of multiple family offices, including the assets of CJ Follini and his family. The purpose of NOYACK is to make investments that consistently generate superior absolute risk-adjusted returns over the long-term by investing in alternative assets, the so-called “white space.” In addition to launching Noyack Logistics Income REIT, NOYACK engages in a broad range of investment activities especially those known as alternative assets such as distressed debt; undiscovered real estate categories; early-stage venture capital; and esports gaming. NOYACK has offices located in New York and Los Angeles; please visit www.noyackcapital.com for more information.
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 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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