Search
 

TA Realty Grabs SoCal Portfolio for $204M

LOS ANGELES-The Boston-based investment firm quietly acquires 1.7 million sf in 51 industrial buildings in Los Angeles, Orange County and San Diego from a joint venture of TIAA CREF and Rreef Funds.

By Brian K. Miller | Updated on July 14, 2006

(To read more on the industrial market, click here.)

LOS ANGELES-TA Associates Realty recently acquired a 51-building Southern California industrial portfolio for more than $200 million, according to local sources. The local office of the Boston-based investment firm quietly closed on the 1.7 million-sf portfolio in a multi-phase purchase in late June that included buildings spread fairly evenly between Los Angeles, Orange County and San Diego.

The properties were part of 9.6 million-sf portfolio of bulk distribution, light industrial and service center building sold by a joint venture of TIAA CREF and Rreef Funds for more than $700M. The so-called CalTIA portfolio is believed to be the largest investor portfolio sale in the US this year. The rest of the portfolio–7.9 million sf in 79 buildings in Atlanta, Baltimore, Charlotte, Cincinnati, Dallas, Miami, Orlando and San Francisco–was sold to Denver-based Dividend Capital for $496.4 million. GlobeSt.com reported that portion of the deal on May 23 and it closed in early June.

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.