Chambers Street Dumps Non-Core Assets in Texas, Ohio, Georgia

PRINCETON, NJ–Chambers Street Properties has dumped four multi-tenant office assets totaling 534,849 square feet that it deemed “non-core” to its long-term strategy. The properties brought an aggregate price of $66.3 million.

The dispositions included one wholly owned asset and three assets from the company’s joint venture with Duke Realty Corporation (all joint venture property dollar amounts stated here are included at Chambers Street’s 80% pro rata share). Mortgage loans of approximately $19.2 million (at Chambers Street’s pro rata share) were paid off in conjunction with these sales, resulting in sale proceeds of approximately $47.1 million.