JULY 3, 2019

ASB-Madison Joint Venture Sell Remaining Fulton Market Portfolio Assets

CHICAGO, IL — ASB Real Estate Investments announced today the sale of its three-building Fulton Market portfolio, a joint venture with Madison Capital, to an undisclosed buyer. Totaling 77,154 square feet of retail and office space, the landmarked assets, which are located at the corner of N. Carpenter and W. Fulton Market streets, include 312 N. Carpenter St., 936 W. Fulton Market St., and 939 W. Fulton Market St. In January, the ASB-Madison joint venture sold a fourth, smaller adjacent building with 14,234 square feet, 328 N. Carpenter St., to Murphy Development Group. ASB made the transactions on behalf of its Allegiance Real Estate Fund, a $7.5 billion core vehicle.

ASB and Madison purchased the portfolio in 2015, subsequently leasing approximately 55,000 square feet.

Nicolas Franzetti, ASB Senior Vice President, said: “We took advantage of an attractive off-market offer from Asana to make this disposition after a successful period of lease-up in what has been a dynamic Chicago submarket. ASB continues to focus our acquisition activity on expanding our industrial holdings and selectively selling some urban retail assets.”

About ASB Real Estate Investments
ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm with $8.0 billion* in gross assets under management for over 340 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real Estate Fund, its sole vehicle for core investing and the ASB Meridian Real Estate Funds, a series of low-leverage value creation vehicles; and a development separate account.

*as of March 31, 2019
The information provided in the release does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities.