We represented Portobello America Manufacturing, LLC in a sale-leaseback, build to suit transaction for an approximately $90 million development of a 966,039 square foot manufacturing, distribution, warehouse and office facility on approximately 92 acres in Baxter, Tennessee. The buyer/landlord on this deal was a subsidiary of Oak Street Real Estate Capital, LLC, and Renasant Bank provided financing for a portion of the development. This project is also subject to a payment in lieu of tax (PILOT) structure with the Industrial Development Board of the City of Cookeville, Tennessee and subject to additional state and local tax incentives.
Portobello America Manufacturing, LLC, a Portobello Group brand, is a Brazilian based flooring manufacturer that creates, produces and distributes complete and competitive coating solutions focused on the US market.