BALTIMORE, MD–TA Realty has sold a 2.8 million-square-foot, 20 property industrial portfolio to Colony NorthStar for $201 million. It sold the portfolio on behalf of The Realty Associates Fund VIII, and The Realty Associates Fund X.
The industrial assets that make up the portfolio are located along the I-95 corridor, from Maryland through Delaware, with the heaviest concentration in the Baltimore area.
Funds VIII and X are part of TA Realty's flagship fund series.
“This transaction speaks to the effectiveness of our aggregation strategy, having built a premier portfolio of industrial assets in strong trade corridors on the east coast,” Tom Landry, managing partner at TA Realty, says in a prepared statement.
TA Realty has sold off a number of portfolios in recent months.
In April it sold a 45-asset portfolio of office and industrial assets to real estate funds managed by Brookfield for $854.5 million. That portfolio traded on behalf of its Realty Associates Fund IX.
Later that same month it sold a six-property, 2514-unit apartment portfolio to Blackstone Real Estate Income Trust for $430 million. That portfolio also traded on behalf of Fund IX.
BALTIMORE, MD–TA Realty has sold a 2.8 million-square-foot, 20 property industrial portfolio to Colony NorthStar for $201 million. It sold the portfolio on behalf of The Realty Associates Fund VIII, and The Realty Associates Fund X.
The industrial assets that make up the portfolio are located along the I-95 corridor, from Maryland through Delaware, with the heaviest concentration in the Baltimore area.
Funds VIII and X are part of TA Realty's flagship fund series.
“This transaction speaks to the effectiveness of our aggregation strategy, having built a premier portfolio of industrial assets in strong trade corridors on the east coast,” Tom Landry, managing partner at TA Realty, says in a prepared statement.
TA Realty has sold off a number of portfolios in recent months.
In April it sold a 45-asset portfolio of office and industrial assets to real estate funds managed by Brookfield for $854.5 million. That portfolio traded on behalf of its Realty Associates Fund IX.
Later that same month it sold a six-property, 2514-unit apartment portfolio to Blackstone Real Estate Income Trust for $430 million. That portfolio also traded on behalf of Fund IX.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
