Macquarie is using the funds to pay down debt and help position the locally based firm to prepare for its financial obligations later this year. Seven properties have already closed in the transaction and the other 23 are expected by the parties to close by the end of March.

The centers, which were acquired by Macquarie in 2004, are in Florida, California, Colorado, South Carolina, Oregon, Kentucky, Illinois, North Carolina, Nevada, Washington State and Alabama. After the sale, Macquarie will be left with about 230 centers in the US, Australia and New Zealand.

Earlier this month, Inland Real Estate Acquisitions, which is part of the Inland Group of Companies, bought two Home Depot distribution centers for $59 million. During that transaction, Mark Cosenza, Inland's acquisitions coordinator said his firm was "focusing on purchasing in every asset class."