Headline: Dakota REIT expands presence in the Twin Cities market
Dakota REIT announces the acquisition of Bassett Creek Innovation Center, a 90,377SF single-tenant, state-of-the-art life science and innovation center sitting on 19.44 acres in Golden Valley, Minnesota. Industrial / flex is one of our targeted asset classes and this acquisition allows us to further diversify our tenant mix in the Life Science industry.
Dakota REIT announces the acquisition of Bassett Creek Innovation Center, a 90,377SF single-tenant, state-of-the-art life science and innovation center sitting on 19.44 acres in Golden Valley, Minnesota. Industrial / flex is one of our targeted asset classes and this acquisition allows us to further diversify our tenant mix in the Life Science industry.
“We are pleased to increase our investment in the globally recognized life science hub of the Twin Cities of Minneapolis and St. Paul. Dakota REIT will continue to look for future opportunities to expand this product type within our portfolio” shares Matt Pedersen, Dakota REIT President. “This acquisition was a strategic target for Dakota REIT in partnership with Ryan Companies US, Inc. This property was purchased off market and with a long-term lease in place. Recently, Vantive Healthcare US signed a 12-year lease for this campus "said Peter Tanis, Chief Investment Officer of Dakota REIT. According to Tanis, Vantive is a leader in the Life Science and Biotechnology industry a. Vantive will utilize this facility as the global hub for R&D, lab and product advancement. Vantive selected this location as the geographic center for its talent pool within the Twin Cities Medical Device corridor at the intersection of I-394 and Highway 169.
About Dakota REIT
Dakota REIT has continued a 27-year track record of consistent distribution yields and share value appreciation. Dakota REIT’s investment objective is to generate attractive current income and equity growth by investing in diversified real-estate assets in the growth markets of the Midwest. Our targeted asset classes include multifamily, industrial/flex, and strategic exposure to grocery-anchored and necessity-based neighborhood shopping centers. Dakota REIT’s press release and additional information are available on its website at www.dakotareit.com or by calling Investor Relations at 701-239-6879.
Contact Information
Peter Tanis
Chief Investment Officer
Phone: 701-239-6879 Ext. 107
