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Cabot Properties Divests from Nationwide Industrial Portfolio for $875M
Boston-based international private equity real estate investment firm Cabot Properties has divested from Cabot Industrial Core Fund L.P., a 27-property industrial portfolio, for $875 million. The properties are located in Los Angeles, Chicago, Dallas, South Florida, Atlanta and New Jersey. AXA Investment Managers acquired the portfolio.
The building attributes of the portfolio include an average age of 2007, average clear height of 32 feet, and an average building size of 300,000 square feet. With over four years of weighted average lease term remaining to a diverse group of tenants, the buildings serve e-commerce and logistics users who require in-fill locations with immediate access to major population centers, as well as access to regional and national distribution networks.
“This is an important milestone in Cabot’s long history in industrial real estate,” said Charlie Forbes, CIO at Cabot Core Investment Strategies. “This portfolio includes some of the finest logistics buildings we have operated, and we look forward to working with AXA IM – Real Assets and extending the portfolio’s success well into the future.”
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