National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Centerbridge, GIC Complete Acquisition of INDUS Realty Trust
INDUS Realty Trust, Inc., a New York City-based industrial/logistics REIT, has been acquired by affiliates of Centerbridge Partners, L.P. and GIC. First announced in February, the all-cash transaction is valued at approximately $868 million.
Additionally, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will act as a strategic investor alongside Centerbridge in the ownership of INDUS post-closing.
Billy Rahm, global head of real estate at Centerbridge, said, “We are excited to partner with ADIA and GIC to continue to grow the business both organically and through acquisitions. We remain confident in the long-term, secular thesis supporting investment in industrial real estate. The INDUS portfolio represents a compelling example of that thesis.”
Following the close of the acquisition, INDUS has ceased trading on the New York Stock Exchange. INDUS owns 44 industrial/logistics buildings totaling 6.6 million square feet in Connecticut, Pennsylvania, North Carolina, South Carolina and Florida.
- ◦Sale/Acquisition
