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?)
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories
)
)
)
)
)
)
)
)
)
)
)
)