Snowball I-91 Core Plus Portfolio

Snowball Developments is excited to present its latest light industrial offering featuring two highly complementary light industrial assets in high-demand, supply-constrained Connecticut  submarkets (Windsor and New Haven). These two properties total 126,802 SF and are 100% leased and cash-flowing with a 5.03-year weighted average lease term (WALT).

With an attractive all-in acquisition basis of $118 psf (versus replacement cost of $160 - $180 psf), and a going-in cap rate of 6.98%, the portfolio projects to a 17.19 annualized returns and a 2.78x equity multiple over an estimated 7-year holding period. Post fees to the Sponsor, investors should anticipate returns of 15.90% and 2.58X equity multiple. In addition, Snowball has identified multiple value-add scenarios that would boost cash yields and push exit values on an expedited timeframe. The portfolio features the following additional investment highlights:

• Balanced tenant mix combining mission-critical manufacturing (IFS), investment-grade logistics (Walgreens), and government-contracted defense services (MSA)
• Strong triple net leases with attractive escalations and capital cost reimbursements
• Diversified income streams with long-term contractual cash flow anchoring the portfolio and near-term mark-to-market upside driving NOI growth
• Blended in-place net rents are ~38% below market, supported by strong comp sets and minimal new supply pressure
• Windsor and New Haven offer superior local submarket fundamentals, including sub-4% vacancy, durable occupier demand, and little-to-no new competitive supply

Snowball is acquiring this portfolio on an off-market basis which will add to its existing 10 property portfolio in Connecticut providing significant portfolio benefits. Although the acquisitions were closed in March 2026, there remains available equity space at par. Contact the Sponsor for more details.