Proterra Investment Partners LP has officially launched its Net Lease Real Estate strategy, marking a strategic expansion into long-duration, yield-oriented real estate with a focus on the food value chain and agribusiness sectors. The initiative is being led by David Kay, an industry veteran with over 25 years of experience who previously founded Capital Automotive REIT and served as CEO of VEREIT (NYSE: VER).\n\nThe strategy focuses on net leases offering defensive cash yields in food, beverage, agriculture, and other critical industries. Proterra aims to leverage sale-leaseback investments, benefiting from rising rents and long-duration lease growth. The firm's established relationships in the food value chain are expected to provide advantages in sourcing and underwriting transactions.\n\nProterra Investment Partners LP is a Minneapolis-based alternative asset manager focused on private equity and private credit investments across the global food value chain. The Net Lease Real Estate strategy is being led by David Kay, who brings over 25 years of experience in the sector. Mr. Kay was the founder of Capital Automotive REIT (CARS), the first company focused exclusively on sale-leaseback capital for the automotive retail industry. He also served as President and CEO of American Realty Capital Properties (ARCP) (renamed VEREIT, NYSE: VER), which was ultimately acquired by Realty Income.\n\n\"It's an exciting time to be leading Proterra's Net Lease Real Estate strategy,\" said David Kay. \"We've assembled a truly dynamic team that brings together decades of specialized experience. The opportunity to partner with industry-leading companies through thoughtful, flexible real estate capital is significant—especially in today's market—and we're excited about the value we can deliver to both tenants and investors. The platform at Proterra is ideal for this asset class, and I am confident in our ability to drive substantial success.\"\n\nThe Net Lease Real Estate strategy focuses on well-executed net leases that offer attractive, cycle-agnostic, defensive cash yields—particularly within food, beverage, agriculture, and other critical industries. The firm's established relationships and knowledge within the food value chain are expected to provide a unique advantage in sourcing and underwriting transactions. Proterra aims to capitalize on sale-leaseback investments, which are expected to benefit from rising rents, steady contractual growth from long-duration leases, and the inherent safety of collateral provided by physical property.\n\n\"We designed this strategy to complement our existing investment platforms and respond to growing demand from our investors and relationships for defensive, income-oriented alternatives,\" said Rich Gammill, Managing Partner at Proterra. \"We've been deliberate in building the right foundation—assembling a team, refining the strategy, and ensuring we can execute at institutional scale.\"\n\nJohn Minor, Managing Director at Proterra added: \"We have a clear roadmap for growth and are actively pursuing opportunities that align with our disciplined investment approach. We are well positioned to capitalize on the increasing demand for high-quality net lease assets.\"\n\nProterra remains committed to its core mission of delivering exceptional value to its investors through innovative and well-executed investment strategies. The launch builds on the strategic groundwork laid earlier this year and marks a significant milestone in the firm's continued evolution and growth.\n\nProterra is an alternative asset manager that makes investments across the food value chain from farm to fork. The firm, which spun out of Black River Asset Management—a wholly owned, independently managed division of Cargill—focuses on seven core investment verticals: Credit, Farmland, Growth Equity, Proterra Asia, Sustainable Agriculture, Asset-backed Strategies, and Real Estate. Headquartered in Minneapolis, the firm employs 66 professionals across four global offices: Minneapolis, Shanghai, Singapore, and Sydney. For more information, visit https://www.proterrapartners.com/.

Proterra Expands Into Net Lease Real Estate: Former VEREIT CEO Leads New Defensive Investment Strategy

Proterra Investment Partners LP has launched a Net Lease Real Estate strategy, focusing on food, beverage, and agribusiness sectors with a defensive cash yield approach. Led by David Kay, a former VEREIT CEO, the strategy leverages sale-leaseback investments and the firm's established relationships in the food value chain. Proterra, based in Minneapolis, operates globally with offices in Shanghai, Singapore, and Sydney.