MAG Capital Partners

What MAG Capital Partners does

MAG Capital Partners is a Dallas-based private investment firm founded in 2015 by Dax T.S. Mitchell and Andrew Gi, focused on US net-leased industrial real estate. The firm operates a multi-fund platform consisting of Industrial Funds I, II, and III (each paired with a corresponding REIT vehicle for tax-efficient retirement-fund investment), alongside joint ventures with The Related Companies, Crystal Asset Management, and Sword Industrial Partners. Industrial Funds I (June 2022) and II (February 2023) were both oversubscribed and fully deployed within seven months to roughly two years respectively; Fund III debuted in Q1 2025. The firm aggregates, develops, and finances income-producing net-lease industrial properties emphasizing immediate cash flow and long-duration leases, with deal sourcing executed through direct sales to institutional and individual investors via dedicated login portals and through a disclosed distribution network spanning JPMorgan, Morgan Stanley, Deutsche Bank, UBS, CBRE, JLL, Colliers, and Newmark.

Beyond fund management, MAG Capital has built a portfolio of operating companies. In April 2022 it acquired a majority stake in Superior Concrete Products, a precast concrete products manufacturer; through that entity it then acquired Advanced Forming Technologies (AFTEC) in April 2025, adding patented precast concrete wall-forming systems that serve datacenter, infrastructure, power/energy, and new-construction end-markets. In December 2024, the firm acquired Nessco Group Holdings Ltd. from Viasat, Inc., adding approximately 80 employees and global operations spanning Canada, the UK (Aberdeen), Qatar, Saudi Arabia, and the UAE in telecom and security solutions for the global energy sector. A Houston facility acquired in October 2025 now serves as Nessco's US headquarters.

MAG Capital is vertically integrated, with in-house capabilities in corporate credit advisory, construction administration, asset management, accounting, and capital markets. The senior team combines co-founder principals with operating and credit hires from STORE Capital, STAG Industrial, Crow Holdings, Liberty Mutual, and Aberdeen Standard, supported by a Strategic Capital Markets function staffed by veterans of Russell Investments, Credit Suisse, and FLAG Capital Management. The firm's GTM is sales-led and primarily direct: institutional and individual investor portals for fund placement, supplemented by co-distribution through major financial institutions and JV partners for asset aggregation.

Name

MAG Capital Partners

Legal name

MAG Capital Partners

Website

https://magcp.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

MAG Capital Partners is a Dallas-based private investment firm, founded 2015, that manages Industrial Funds I-III and corresponding REITs focused on US net-leased industrial real estate, and operates portfolio companies including Nessco Group Holdings, Superior Concrete Products, and Advanced Forming Technologies.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Investors, Nec (6799)

akta.pro primary industry

Real Estate Funds — Opportunistic / Development (FSANAEAI)

akta.pro secondary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

Keywords

• Net lease industrial real estate
• Private real estate investment
• Industrial real estate funds
• Commercial real estate investment
• Sale leaseback acquisitions

Headquarters

HQ city

Fort Worth

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Net Leased Industrial Real Estate Investment: MAG Capital Partners generates returns through aggregation, development, and financing of income-producing net lease industrial real estate. The firm operates multiple industrial funds (I, II, III and corresponding REITs) that acquire and manage cash-flowing industrial manufacturing real estate in the US.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

MAG Capital Partners is a private investment firm that aggregates, develops, and finances income-producing net leased industrial manufacturing real estate across the United States. It operates Industrial Funds I, II, and III with corresponding REIT vehicles targeting institutional and individual investors, supplemented by joint ventures such as Sword Industrial Partners and portfolio companies (Superior Concrete Products, Nessco Group Holdings, AFTEC). The firm pursues immediate cash flow and long-term net lease structures in US-based industrial real estate.

Product overview

MAG Capital Partners is a private investment firm focused on American net leased industrial real estate. The company operates a multi-fund platform structure consisting of Industrial Funds I, II, and III (with corresponding REIT vehicles for tax-efficient retirement fund investment), alongside strategic joint ventures including Sword Industrial Partners for Western US industrial assets, and partnerships with The Related Companies and Crystal Asset Management. The firm's investment strategy centers on acquiring, developing, and financing income-producing net lease industrial properties across the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Fund I MAGCP's first industrial real estate fund, launched in June 2022 and fully deployed by December 2022. The fund owns cash-flowing industrial manufacturing real estate across the United States, targeting immediate cash flow and long-term net lease structures. Available to investors via the institutional and individual investor portals.
• Industrial Fund II Second MAGCP industrial fund, opened in February 2023 and closed/fully deployed in 2024. The fund is oversubscribed and acquires diversified cash-flowing triple net leased industrial assets across the United States, generating immediate cash flow for investors.
• Industrial Fund II REIT REIT alternative investment vehicle supporting Industrial Fund II, designed to provide simplified tax filing management and a streamlined investment structure for qualified retirement funds. Targeted at individual/retail investors accessing MAGCP industrial real estate exposure through their individual investor portal.
• Industrial Fund III Third MAGCP industrial fund, debuted in Q1 2025. Continues the firm's approach to US-based industrial real estate investment with focus on immediate cash flow and long-term net lease structures. Acquired industrial assets across the United States, accessible through both the institutional and individual investor portals.
• Industrial Fund III REIT REIT alternative investment vehicle supporting Industrial Fund III, designed for simplified tax filing management and streamlined investment structure for qualified retirement funds. Tailored for individual/retail investors accessing MAGCP industrial real estate exposure.

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Sword Industrial PartnerscoreStrategic or Co-development Partner · 1 January 2024In 2024, MAG Capital Partners formed Sword Industrial Partners to capitalize on infill value-add and small-bay industrial assets in the western United States. Scott Word leads this joint venture focused on multi-tenant, infill industrial real estate.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Prologis: Prologis is the largest publicly traded industrial REIT globally, focused on logistics and manufacturing real estate. A broad incumbent that shapes market pricing and is a frequent source of off-market sale-leasebacks that smaller managers like MAG can compete for.
• Realty Income Corporation: Realty Income is the largest publicly traded net-lease REIT with an industrial-heavy and multi-tenant portfolio. A scaled incumbent that defines pricing and LP benchmarks in the net-lease industrial category MAG targets.

Direct peers

• Broadstone Net Lease: Broadstone Net Lease is a publicly traded net-lease REIT with significant industrial and manufacturing exposure acquired through its 2022 merger with Necessity Retail. Closely comparable fund-and-REIT dual structure.
• Spirit Realty Capital (predecessor, now Realty Income): Spirit Realty was a publicly traded net-lease REIT with strong industrial and manufacturing exposure before its 2024 merger with Realty Income. A historical direct comparable for both asset strategy and investor base.
• STAG Industrial: STAG Industrial is a publicly traded REIT focused exclusively on single-tenant net-leased industrial real estate across the United States. The most direct competitor and benchmarking comparable for MAG's industrial fund platform.
• W. P. Carey: W. P. Carey is one of the largest publicly traded net lease REITs, owning and managing a diversified portfolio of single-tenant industrial, warehouse, and manufacturing properties — directly comparable to MAG Capital's net-leased industrial strategy.
• STORE Capital (Oak Street/GIC portfolio): STORE Capital was a large publicly traded net-lease REIT specializing in sale-leaseback transactions with industrial and other tenants, taken private by Oak Street and GIC in 2023. Many MAG executives are STORE alumni, making it the closest operational comparable.
• Global Net Lease: Global Net Lease is a publicly traded net-lease REIT with a multi-tenant and single-tenant industrial / distribution portfolio across the US and Europe. Direct overlap with MAG's industrial focus and similar institutional/retail investor distribution model.
• Four Corners Property Trust: Four Corners Property Trust is a small-cap net lease REIT focused on restaurant and retail sale-leasebacks but with growing industrial exposure. Comparable mid-size, externally managed net-lease platform with a similar fundraising cadence.
• Terreno Realty Corporation: Terreno Realty is a publicly traded REIT that acquires, owns, and develops industrial real estate in six major US coastal markets. Comparable in size and industrial focus to MAG Capital's net-leased US industrial strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MAG Capital Partners