Walton Street Seals $2.8B CalWest Deal

(Read more on the industrial market.)

SACRAMENTO-Walton Street Capital of Chicago last month closed on its $2.8-billion acquisition of the CalWest Industrial Holdings portfolio from the California Public Employees Retirement System, an industry source close to the deal tells GlobeSt.com. CalPERS accumulated the 95-property portfolio through Chicago-based Rreef, its separate account real estate manager.

The 23.5-million-sf portfolio consists of mostly warehouse-distribution product in the Western US, with a concentration in Southern California. The portfolio also contains assets in Sacramento, Phoenix, Portland and Seattle, according to sources familiar with the portfolio. The purchase price works out to $119 per sf.