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Bain Capital and Oliver Street Capital (OSC) have acquired an industrial portfolio primarily located in the northern New Jersey market for $208 million.

The private, off-market transaction was completed via a joint venture between Bain Capital’s Real Estate team and OSC that focuses on acquiring high-quality, infill industrial properties in select, supply constrained markets.

The value-added portfolio consists of 11 class B warehouses spread across top infill submarkets in northern New Jersey and represents a combined 784,000 square feet. The light industrial properties feature desirable warehouse suite sizes averaging 23,000 square feet. The portfolio is 88 percent leased to a mix of local and national tenants.