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Boston & New England  + Boston  + Industrial  | 

ILPT Acquires Two Industrial Portfolios for $905M

Newton, MA-based Industrial Logistics Properties Trust (ILPT) acquired two portfolios of industrial properties for an aggregate purchase price of $905.3 million.

ILPT acquired a portfolio of 18 properties located in 12 states, with an aggregate of approximately 8.7 million square feet from affiliates of Cole Office & Industrial REIT (CCIT II), Inc. CCIT II is sponsored by an affiliate of CIM Group, LLC.

The total purchase price of the portfolio was $625.3 million. The acquisition is expected to close within 60 days. The 18 properties are 100% leased to 13 tenants, including such companies as UPS, Procter & Gamble and Subaru. Eastdil Secured is representing CCIT II in the transaction.

The second deal involves an eight-property, roughly 4.2-million-square-foot portfolio located in the Indianapolis and Cincinnati market areas. An undisclosed party divested the portfolio that’s 100% leased to 10 tenants for $280 million.

ILPT is funding the acquisitions with cash on hand from its recent $650 million mortgage financing, and by drawing on its $750 million revolving credit facility.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition