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Nuveen Nabs Industrial Portfolio from Colony for $136M
Nuveen Real Estate, a division of TIAA, acquired a light industrial portfolio from Dallas-based Colony Industrial for $136 million. The warehouse portfolio totals 2.3 million square feet, and is situated in four markets including 18 buildings in Atlanta, five buildings in Dallas, five buildings in Houston and six buildings in PA/NJ.
Colony Capital’s Lew Friedland (pictured) says, “We’ve owned and operated these assets for some time, and the portfolio value had achieved Colony Industrial’s targets. We reevaluate the portfolio as opportunities arise, and this sale to Nuveen enables us to rebalance our property mix to align with Colony Industrial’s long-term strategic plans.”
CBRE National Partners represented Colony Industrial in the sale. Colony Industrial is the industrial platform of Colony Capital, Inc.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition