Three U.S. portfolios sell for $6.2b
Three U.S. portfolios were sold separately for a total of more than $6.15 billion.
In one of the largest industrial real estate transactions of the year, a joint venture of Henley Holding Co., a wholly owned subsidiary of the Abu Dhabi Investment Authority and Canada’s Public Sector Pension Investment Board, closed on the acquisition of a 58 million-square-foot portfolio of core industrial properties held by investment funds owned and managed by industrial property specialist Exeter Property Group for $3.15 billion. Exeter invested in the joint venture and will also continue to manage the purchased properties.
The portfolio, located in 25 key distribution markets throughout the United States, consists of 209 high-quality industrial assets, most of which are modern bulk warehouses that provide critical infrastructure supporting both e-commerce and traditional retailers, suppliers and wholesalers.
In other news, Canada’s RioCan REIT is