GRAND RAPIDS, MI-Fifteen industrial properties here here have been purchased by Irvine, CA’s SVN Equities in joint venture with Bank of America subsidiary South Charles Investment Group. First Industrial Realty Trust sold the nearly 1.9-million sf portfolio in a $49-million deal.

Mark Mimms, senior associate for Sperry Van Ness in Fresno, CA represented the buyer, while Duke Suwyn and John Kuiper of Grubb & Ellis Paramount represented First Industrial. A $38-million loan on the property was arranged by Mary Carlston of GMAC.

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