JV of Clear Height and Harbert Snaps Up 33-Property Chicago Industrial Portfolio
A joint venture of Oak Brook, IL-based real estate investor Clear Height Properties and Harbert US Real Estate (HUSRE) has purchased 31 assets and two land sites totaling more than 1.4 million square feet of space in the Chicago industrial market for more than $100 million. It’s among the region’s largest off-market deals of 2022.
With the acquisition of this portfolio that is 98% leased to more than 130 businesses, primarily in the Central DuPage submarket, the Clear Height and HUSRE joint venture has nearly doubled in size and now has more than 50 assets totaling approximately 3.0 million square feet.
“This is a massive and significant transaction by any measure, especially considering it was completed during a period of economic uncertainty in the capital markets,” said Dominic A. Sergi, CEO, Clear Height Properties.
Steve Roth and Scott Lewis of CBRE Capital Markets facilitated financing for the portfolio.
- ◦Sale/Acquisition