In 2011, FD Stonewater launched a venture with DuPont targeting value-add returns through short-term, government-leased investments and long-term-leased development build-to-suits. The JV acquired three single-tenant assets and developed a fourth with agencies including U.S. Customs and Border Protection, Military Entrance and Processing Command, and Immigration and Customs Enforcement. Sensing a shift in the market, the firm opportunistically sold the portfolio to a national asset management and investment firm and realized attractive program returns.

Category: Investment/AM