At a special shareholders meeting held, at PAG's headquarters in Newport Beach, shareholders voted to approve the deal to sell 72 properties encompassing 14.9 million sf of industrial space. The sale is expected to close later this month for an aggregate price of $856.9 million. However, excluded from the deal is one property that had been previously deleted from the transaction and four other properties that may require additional remediation before they are either sold or deleted.

"We are extremely pleased that our shareholders have supported the determination by our management and board of directors that these transactions present the best opportunity in today's market environment to maximize value for our investors," said chairman/CEO Glenn Carpenter.

PAG has already sold four of its multifamily apartment properties for $60.5 million and has sales pending on another seven of eight apartment properties totaling $62 million. Those pending sales are subject to several conditions, and there is no guarantee that they will close. PAG's multifamily portfolio includes eight rental communities with 1,500 units designed for active seniors age 55 and up.