TA Realty sells logistics portfolio for $1.04b

TA Realty has sold an 8.3 million-square-foot, 96-property logistics portfolio for $1.04 billion in two separate transactions on behalf of one of its closed-end value-added funds.

In one transaction, AEW Capital Management acquired the portfolio’s 28 Texas-based properties. In the other transaction, funds managed by Blackstone acquired the portfolio’s 68 properties, which are situated in 10 high-growth markets across the United States.

“Aggregating high-quality, national industrial portfolios has been a hallmark of our investment strategy for over 30 years,” said James Raisides, Partner at TA Realty.

“The value created for our investors by this transaction further demonstrates our expertise in assembling highly sought-after last mile logistic portfolios.”

The multi-tenant distribution properties are located across 14 high-growth markets that are served by substantial infrastructure and benefit from convenient access to major transportation ar