Search
 

GlobeSt.com UPDATE: Rreef Closes on $1B-Plus Portfolio Buy

CHICAGO-Columbus, OH-based CalEast Industrial Investors, LLC gets $57 per sf for the 206-building portfolio totaling nearly 22 million sf. Half of the space is in the Midwest, the rest in the Northeast and Southeast.

By Mark Ruda | Updated on June 29, 2005

CHICAGO-Rreef is the new owner of a 23-million-sf industrial portfolio, paying more than $1.3 billion for the assets, mostly in the eastern US. Columbus, OH-based CalEast Industrial Investors, LLC put the 206-building portfolio on the market earlier this year, hiring Los Angeles-based Secured Capital Corp. to lead the marketing effort.

About one-third of the portfolio, eight million sf in 57 buildings, is located in the Northeast, according to a spokesperson for the sellers. Another 12 million sf is in the Midwest, in 120 buildings. The rest of the portfolio totals 2.7 million sf in 29 buildings in the Southeast.

“The industrial portfolio was highly sought after due to its strategic locations and the quality of the assets,” says Secured Capital principal Steve Silk. Rreef officials were available for comment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.