Tempus Realty Partners, an Arkansas-based real estate investment firm, announced the acquisition of two properties totaling approximately $42.1 million for its perpetual-life investment vehicle, Tempus Evergreen. The acquisitions include five buildings spanning 336,242 square feet across roughly 22.5 acres in North Little Rock and Fayetteville, Arkansas.

The North Little Rock property is the corporate headquarters of Onterris, Inc. (NYSE: ONT), a publicly traded environmental solutions provider, fully leased under a long-term triple-net lease through December 2045. The Fayetteville property is the headquarters campus of Kimbel Mechanical Systems, a national mechanical contractor, fully leased under a long-term triple-net lease through June 2038. Both properties feature built-in annual rent escalations.

The acquisitions grow the Tempus Evergreen portfolio from 17 to 22 properties, increase net operating income to $22.8 million, extend the fund’s weighted average lease term to more than 12 years, and push total fund value past $330 million. Since its inception in July 2022, Tempus Evergreen has delivered an 11.1% life-to-date annualized return and a 1.44x multiple of invested capital, marking a milestone in the company’s 10th anniversary year.

Tempus Realty Partners is an investor-centric real estate investment partnership focused on acquiring and developing commercial real estate mainly in the South and Midwest. The company has acquired more than $1.2 billion of property across 26 states since forming in 2016.

KEY QUOTE:

“These acquisitions are a meaningful step forward for Evergreen and our investors. Together, they grow the portfolio from 17 to 22 properties, increase net operating income to $22.8 million, extend our weighted average lease term to more than 12 years and push total fund value past $330 million. Both are Arkansas-headquartered companies, which reinforces the depth of opportunity we continue to find in our home market and across the Heartland.”

Clay Ramey, Partner of Capital Markets, Tempus Realty Partners