We represented a publicly traded office and business park property REIT in the $241 million sale of a portfolio of 23 institutional-quality industrial properties comprising approximately 4.0 million square feet to an affiliate of Blackstone Real Estate Partners VII. Sixteen (16) properties, representing approximately 2.6 million square feet, were located in Southern Virginia and the remaining seven (7) properties, representing approximately 1.4 million square feet, were located in the Baltimore, Maryland and Washington, D.C. submarkets. The properties were owned by thirteen (13) separate sellers and the proceeds from two (2) of the properties were placed with a qualified intermediary to facilitate a potential forward 1031 exchange.
$241 Million Industrial Portfolio Sale for Public REIT
Client Type: Public Company