AIC Ventures has completed two sale-leaseback deals with FlexSol Packaging Corporation, a manufacturer of flexible packaging and value-added plastic films. The properties were acquired through AIC’s real estate fund, NL Ventures VI, through an affiliate. It simultaneously entered into long term absolute net leases with FlexSol.
The deals included assets in Nashville, Tennessee and Statesville, North Carolina, with facilities including 182,600 square feet of manufacturing and office space.
David Steinwedell, AIC managing acquisitions partner, said in a statement that the deal “brings additional diversity to our portfolio” and also allowed FlexSol to meet its “need for capital.” The transactions were closed within 30 days.
Texas-based AIC Ventures provides capital to middle-market companies and has more than $720 million (€455 million) in completed transactions.