ST. LOUIS, Mo., November 27, 2012… ElmTree Funds is pleased to announce it recently closed on the sale of General Electric Aviation’s Batesville, Miss., facility, making it ElmTree’s third transaction involving GE Aviation this year. In addition to the Batesville, Miss. facility, ElmTree has provided equity for two new GE Aviation facilities that are currently under construction in Auburn, Ala., and Ellisville, Miss. The total asset value of the three GE Aviation facilities is $87 million. All three of the projects are advanced manufacturing, warehousing, and distribution facilities for General Electric Co. (GE) (NYSE: GE), where the company will manufacture components for aircraft engines and systems.
The Batesville, Miss., facility is a recently expanded 330,000-squarefoot warehouse/distribution facility with 27,500 square feet of office space, located on 87 acres. It includes a total of 288 parking spaces.
The project in Auburn, Ala., will include a 279,000-squarefoot warehouse/distribution facility with 24,000 square feet of two (2) story office space. This project is located on approximately 45 acres and will have a total of 288 parking spaces.
The third GE Aviation location in Ellisville, Mississippi will include a 341,700-square-foot warehouse/distribution facility with 30,000 square feet of office space. The project is located on approximately 43 acres and will have a total of 350 parking spaces.
GE operates as a technology, service and finance company worldwide. GE Aviation, an operating unit of General Electric, is a world-leading provider of jet and turboprop engines, components and integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings. GE Aviation employs approximately 37,000 employees and operates more than 50 manufacturing and service facilities around the world. The company invests $1 billion annually in jet propulsion R&D programs. This long tradition of commitment to new technology has helped GE establish its leadership position in the industry with a proud list of “firsts” in both the military and commercial jet propulsion, tracing back to 1942 with America’s first jet engine. With annual revenues of over $150 billion, GE has been ranked by Fortune as the 6th largest firm in the United States.
ElmTree Funds, LLC (“ElmTree”) is a private equity investment firm based in St. Louis, with offices and affiliates in Charlotte, Boston, and New York that seeks opportunities in the commercial sale leaseback and net lease real estate markets. www.elmtreefunds.com
For more information, please contact:
Julie Hauser, The Hauser Group (314) 436-9090
James G. Koman, Managing Principal (314) 261-7348
Joseph Yiu, Chief Investment Officer & Managing Principal (201) 892-5550
Tags: ElmTree Funds