KTR Enters Market With $115M Portfolio Buy

LAS VEGAS-An affiliate of New York City-based investment firm KTR Capital Partners has closed on the acquisition of a 1.6 million square foot portfolio of shallow bay distribution space. The deal included a 1.1 million-square-foot class A business park in Las Vegas and five assets totaling 475,000 square feet in Southern California.

Financial terms of the deal were not disclosed, but industry sources peg the deal at about $115 million. The sale was negotiated by vice chairman Darla Longo of the Ontario office of CB Richard Ellis, who represented both the buyer and the seller, who was undisclosed.