ERP Industrials, a firm focused on triple-net leased industrial real estate serving the needs of the energy industry in the Permian Basin, has announced the full subscription of its ERP 1031 Industrial Portfolio DST offering.
Launched in April 2022, the private placement offering raised approximately $44.2 million in equity from accredited investors which was invested in a $64.2 million portfolio of 28 single-tenant, net-lease industrial properties that serve the energy industry of the Permian Basin. The portfolio encompasses more than 319,000 square feet and 148 acres of rentable acres, occupying strategic transportation corridors of the basin: Highway 191, FM 1788, Business 20, and Interstate 20.
“We are thrilled to see such a positive response from our investors,” said William A. Meyer II, president and founder of ERP Industrials. “The full subscription of this offering reflects the market’s confidence in our approach and the quality of assets that we are able to bring to the table. We remain committed to delivering value to our investors and are excited about the future opportunities that lie ahead.”
ERP Industrials, founded and headquartered in Midland, Texas, is a real estate investment firm that seeks to acquire cash flowing, net-lease industrial properties in markets it believes will experience dramatic economic growth over long periods of time. It focuses primarily on the energy-prolific Permian Basin oil field.
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