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Plymouth Industrial closes $100M purchase of 15 Chicago industrial assets

Plymouth Industrial REIT Inc. completed the purchase of 15 industrial buildings in the Chicago area from Goldman Sachs subsidiary BIGS Holdings LLC for a total consideration worth roughly $99.8 million.

The price for the 3.0 million-square-foot class B portfolio comprises a roughly $20 million cash payment along with a a $79.8 million, two-year secured term loan at a 4.35% initial interest rate from a BIGS affiliate.

Plymouth stands to garner an 8.1% initial yield from the acquisition that raised its asset count in the Greater Chicago market to 21 properties across upward of 3.5 million square feet.