New Mountain Capital invests in 491,000 s/f facility

Yaphank, NY According to New Mountain Capital, a defensive growth-oriented investment firm that manages more than $33 billion across private equity, credit, and net lease real estate, its net lease business, New Mountain Net Lease, has closed six sale-leaseback transactions in the first half of 2021. These transactions had a total acquisition value of $287 million and covered 1.7 million s/f of industrial and life science real estate.

The investments include the acquisition of Amneal Pharmaceutical’s 491,000 s/f manufacturing facility in Long Island. Amneal is a leading manufacturer and distributor of pharmaceutical products, primarily in the generic and specialty drug markets.

Teddy Kaplan, managing director and head of New Mountain Net Lease, said, “New Mountain has had a strong first half of the year in our net lease business. We have worked with a variety of leading organizations to help them unlock value in their owned real estate and enhance their businesses’ financial profiles.”

through mutually beneficial, thoughtfully structured transactions that we expect will deliver attractive risk-adjusted returns for our investors. We are pleased to see the robust response that our differentiated, non-investment grade-focused net lease offering has received from property owners and financial sponsors. We look forward to continuing to expand our existing relationships and fostering new ones across the markets in which we operate.”

This robust level of activity in the first half of the year demonstrates New Mountain’s ability to leverage its deep expertise in defensive growth investing to structure and execute transactions that deliver value for the firm’s investors as well as to property owners and financial sponsors seeking to optimize their asset base and financial profile.