Bridge Net Lease, a Subsidiary of Bridge Investment Group, Acquires Manufacturing and Distribution Assets in Pennsylvania

SALT LAKE CITY--(BUSINESS WIRE)-- Bridge Net Lease announced that it has acquired two off-market manufacturing and distribution assets located in Hazleton, PA, totaling 283,450 square feet. The assets, located at the intersection of two critical interstate highways, are 100% leased on 15-year absolute net leases with two additional 5-year options. The mission critical assets serve as the tenant’s sole US manufacturing and distribution facilities. The transaction was brokered by the CBRE National Partners Northeast team consisting of Mike Hines, Brian Fiumara, Brad Ruppel, Joe Hill, and Lauren Dawicki, along with Vincent Ranalli and Tony Gruenling.

“The investment is representative of our investment thesis of acquiring mission critical assets leased on a long-term basis to credit-worthy tenants in all material respects. The 15-year sale-leaseback of two manufacturing and distribution facilities for a packaging systems manufacturer should provide stable cash flow to our LPs. The properties sit directly on I-81 (40,000 cars a day) and are minutes away from the intersection of I-81 & I-80, providing an equidistant connection to New York City and Philadelphia (2.5 hours) and making them strategically located within a 4-hour drive to over 50 million people.” said Brandon Flickinger, Co-Chief Investment Officer of Bridge Net Lease.

About Bridge Net Lease

Bridge Net Lease manages the industrial net lease strategy of Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”). Bridge Net Lease is led by CEO Mike Sodo and Co-CIOs Matt Tucker and Brandon Flickinger. Since launching in July 2021, Bridge Net Lease has invested over $700 million into industrial net lease warehouse properties and build-to-suit development projects, including logistics, manufacturing, distribution and cold storage assets located in primary and logistically connected prime growth markets throughout the US, totaling more than 5.85 million square feet. Bridge Net Lease is based in Arlington, VA with presence in Chicago, IL and Phoenix, AZ.

About Bridge Investment Group

Bridge is a leading, alternative investment manager, diversified across specialized asset classes, with approximately $48.8 billion of assets under management as of March 31, 2023. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. verticals across real estate, credit, renewable energy and secondaries strategies.

Forward-Looking Statements

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Media and Investor Relations:

Charlotte Morse

Bridge Investment Group Holdings Inc.

press@bridgeig.com

(877) 866-4540

Source: Bridge Net Lease