Tempus Realty Partners LLC is making moves again.
The real estate investment partnership’s related entity, Tempus Oshkosh LLC of Little Rock, recently raised $8.6 million by selling units of the LLC, according to an Oct. 8 filing with the Securities & Exchange Commission. The filing showed there were 67 investors.
The money was used to buy a 486,000-SF paper products manufacturing plant in Oshkosh, Wisconsin, from the Hoffmaster Group Inc., which is leasing it back, said Dan Andrews, managing partner of Tempus Realty Partners.
“We particularly like that property because we think Hoffmaster is a great company,” Andrews said. “They’re very well positioned post-COVID, … and we’re very bullish on their business.”
The deal marks the investment firm’s 16th purchase in the last five years, Andrews said. He said the group has “a handful of properties that we’re in negotiations on right now.” But he said it was too early to release more details.
Andrews said raising money during the pandemic wasn’t difficult. Tempus recently “had an excellent return on that and so our investors were very good about joining us on this latest venture,” he said.
In that deal, Tempus Realty Partners sold Axis Park in Greenville, South Carolina, in March for $33.1 million. Tempus Realty Partners bought the property in 2017 for $18.35 million. It renovated Axis Park’s common areas and lobbies and added a tenant lounge and fitness center.
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