Shelter Growth Capital Partners Lends $25M for Jacksonville Industrial Buy

Wasa Properties has landed $25.3 million of acquisition financing for the purchase of an industrial portfolio in Jacksonville, Fla., Commercial Observer has learned.

Shelter Growth Capital Partners supplied the loan for Wasa’s acquisition of three small-bay industrial assets spanning a total of more than 265,000 square feet. 

Wasa, a New York City-based real estate investment firm, was founded by Morty Bistritzky in 2004. Stamford, Conn.-based Shelter Growth is led by Dan Sparks, who previously spent nearly two decades in the fixed-income division at Goldman Sachs. 

BayBridge Real Estate Capital arranged the transaction with a team consisting of Yan Khamish, Jay Miller, Noah Rothman, Spencer Miller and AJ Felberbaum. 

The portfolio consists of 8535 Baymeadows Road and 1210 Phillips Industrial Boulevard, which Wasa acquired for $28.2 million from A-B Distributors, as Traded previously reported. The loan also covers 280 Business Park Circle in Saint Augustine, Fla., 30 miles south of Jacksonville, which Wasa bought for an undisclosed price.

Officials at Shelter Growth Capital Partners, Wasa Properties and BayBridge did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.