Colony Capital announces sale of bulk industrial portfolio

Colony Capital has announced the sale and closing of its 51 percent ownership stake in the Colony Bulk Industrial Portfolio at a $400 million total portfolio value. The transaction generated more than $85 million in net equity proceeds to Colony, supporting its strategic plan to rotate the balance sheet and redeploy capital into digital infrastructure. The sale is a final step in Colony’s exit from the industrial real estate sector and comes at a premium to carrying value for the asset, which was held at $69 million of net equity as of Sept. 30, 2020.

“The sale keeps us on track to hit our 2020 OED monetization targets and adds valuable fuel to power our digital transformation. I’d also like to acknowledge and thank everyone at Colony who helped successfully execute on the sale under these challenging conditions — congratulations to the whole team,” said Marc Ganzi, president and CEO of Colony Capital.