Brookfield buys industrial, office assets for $854m
Brookfield Asset Management has acquired a portfolio of industrial and office properties located across 12 states for a total of $854.5 million. TA Realty sold the portfolio to Brookfield on behalf of its TA Realty Associates Fund IX.
“With this sale, we have successfully monetized a significant number of assets in Fund IX, including all of the remaining industrial assets,” says Tom Landry, managing partner at TA Realty.
Comprising a mix of high-quality industrial and office properties totaling 8.6 million square feet, the portfolio is nationally diversified, with assets located across 12 states. The vast majority of the properties are leased to investment-grade tenants and situated in high-barrier-to-entry markets, including Chicago, Dallas, Los Angeles and Washington, D.C.
Fund IX is part of TA Realty’s flagship fund series that focuses on creating diversified real estate portfolios that generate strong cash flow, benefit from intensive asset management