Artis, a Canadian REIT based in Winnipeg which last year considered selling its entire portfolio, now is offloading some of its prime U.S. industrial assets to improve its balance sheet.
Artis has sold the 1.8M SF Park 8Ninety, an industrial park the REIT developed in Southwest Houston, to KKR for $234M, making the transaction the second-largest industrial trade ever in the Houston area, according to a Green Street alert.
JLL brokered the off-market deal for Artis. The transaction works out to about $130 per SF.
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