HOUSTON-Weingarten Realty Investors has completed the sale its industrial portfolio totaling approximately 9.6 million square feet to DRA Growth and Income Fund VII. The portfolio comprises 52 industrial properties in Texas, Virginia, Tennessee, Georgia and Florida.
The industrial properties changed hands for $382.4 million. Weingarten will use the proceeds to settle outstanding amounts under revolving credit facility as well as repay an unsecured term loan that amounts to $200 million. J.P. Morgan Securities LLC advised Weingarten on the deal. For the full story, go to Commercial Property Executive .
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