March 9, 2016

BlueRoad Ventures (BlueRoad), a multi-strategy alternative asset management and investment company, announced today that it has acquired a $139 million retail portfolio of 48 properties in 18 states. The portfolio was purchased from Brauvin Net Lease, a privately held Real Estate Investment Trust (REIT) managed by Chicago-based Brauvin Real Estate. Law firm Much Shelist represented BlueRoad in the transaction. 

With this acquisition, BlueRoad expands its retail portfolio to more than 1 million square feet under management. The acquired properties are occupied by a range of leading retail brands, including CVS, Fresenius, Tractor Supply Co and Advance Auto Parts. BlueRoad will provide oversight and tenant services through its asset management group.

“This is an exciting milestone transaction for BlueRoad. I am proud of our team for their efforts in sourcing and completing this off-market deal, and thankful to Much Shelist for their expertise and guidance on this complex transaction,” said Tim Farrell, Managing Partner at BlueRoad Ventures. “This diversified group of corporate-backed net leases further demonstrates our commitment to creating opportunities and providing solid returns for our investors."

The addition of this high quality asset is consistent with BlueRoad’s specialty and experience in delivering value and consultation to its partners and investors. The transaction underscores the unique synergies BlueRoad provides to its family office client base, with expertise ranging from real estate investment and management to private equity and accounting and financial services.

David T. Brown, Chairman of Much Shelist, added, “BlueRoad's management team has a proven track record of success in identifying, managing and acquiring investment opportunities in both the real estate and private equity arenas. We are thrilled for the entire BlueRoad team on the completion of its largest deal to date, and we appreciate the opportunity to participate in this multi-state deal that further supports our capabilities as skilled real estate and transaction attorneys.” 

The Much Shelist transaction team included David T. Brown, Michael D. Burstein, Barry A. Comin, Steven L. DeGraff, Scott M. Lapins, Katherine Bonk Lewis, Courtney E. Mayster, Kristin A. Nordman and Joel E. Resnick.