| A six-time repeat sponsor, a $66 PSF basis, and a July 29 target close. |
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Hi there,
A retirement created this opportunity. After roughly 20 years, the owner of Mason Paper is handing the business to his son - and structured an off-market sale-leaseback of the company's Springfield, MA facility at below-market rents to ease the transition.
The result: Ultimate Realty, a six-time repeat EquityMultiple sponsor and Premier Partner, is acquiring Springfield MA Last-Mile Industrial - a fully leased, three-tenant, 75,510 SF industrial property on New England's primary I-91 distribution corridor - for $5.0M, or $66 PSF. That is a 59% discount to estimated replacement cost, on an asset where in-place rents sit 39% below market.
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Off-market at $66 PSF against $116 PSF comps
The all-in basis is $84 PSF, versus ~$200 PSF estimated replacement cost for comparable sub-100K SF industrial in the submarket. Comparable sales average $116 PSF at a 6.56% cap rate. |
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Rail-served, fully leased, and hard to replicate
The Property is 100% leased to Mason Paper, NPL Construction, and Carrier at a blended $5.45 NNN PSF, versus a $9.33 PSF competitive-set average - and Mason Paper's in-place lease is personally guaranteed by the tenant for its three-year term. Two active rail spurs - one entering the building - industrial outdoor storage, and significant installed equipment make the site difficult to replicate and expensive for tenants to leave. An executed 20-year solar lease adds a supplemental income stream expected to commence in early Q3 2026. |
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Six-time repeat sponsor with realized EM exits
Founded in 1996, Ultimate Realty has completed 60+ transactions totaling $1B+ and developed more than 2M SF of industrial space. Its realized EM exits include EM 113 at a 55.8% net IRR and 2.0x a year ahead of schedule, and EMIP 5, which exited roughly 250 bps above underwriting in December 2025. |
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A fixed-rate senior loan at 49% LTC, a Sponsor co-investment of 25% of total equity, a $622K reserve for tenant turnover costs, and a defined 2-year business plan round out the structure. The minimum investment is $15,000, with a July 29 target close.
Confirm your accredited investor status on the offering page to view full investment details and projected returns.
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Questions? Reply to this email or reach out to our investor relations team via live chat on our website. Happy Investing,
The EquityMultiple Team |
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*Diversification on the EquityMutliple Platform is defined as having dispersed investments between the Keep, Earn, and Grow offerings.
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