Equity Industrial Making $500M-Plus Sale

(Read more on the industrial market.)

NEEDHAM, MA-In a deal said to eclipse $500 million, the owners of a vast industrial portfolio is selling off a majority of the properties to a Los Angeles-based real estate investment firm, sources have told GlobeSt.com. Equity Industrial Partners reportedly will harvest the lion’s share of 18 million sf to a partnership led by Hackman Capital Partners, say sources who indicate the transaction could happen as early as this week. Concentrated in Massachusetts, the holdings extend to Colorado, Florida, Illinois and Texas and several other states.

“That’s legit–it’s definitely happening,” one source tells GlobeSt.com, while another maintains that Calare Properties of Hudson, MA, is also involved, possibly as operating partner. The buyers have already made a deposit on the deal, sources say, and the principals of Hackman last month established an entity in Massachusetts known as the National Industrial Portfolio Borrowers LLC that is ostensibly related to the purchase.