News
If You Can’t Beat Industrial Cap Rates…
February 3, 2014
At dinner at The Carlyle on Thursday, we snapped our hosts, Iridium Capital’s Sean Shanahan and Marilyn and David Kane. The company, which is structured like a hedge fund and uses a net-lease investment strategy, just completed its third year, acquiring 23 properties across 12 states. As cap rates tighten on retail (Iridium’s bread and butter), the firm is switching to a new creditworthy staple: distribution centers. It's in talks for its first such acquisition, a FedEx warehouse, to take advantage of the e-commerce wave. (Does that mean it made the purchase in bitcoins?)
