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Friday, May 18, 2012 Industrial
A joint venture between KBS Real Estate Investment Trust, Hackman Capital Partners and Calare Properties purchased the 11.4 million square foot real estate portfolio from Equity Industrial Partners for $516 million on Aug. 21. The buyers were self-represented while Jim Thomson and Doug Jacoby of Boston-based Newmark Knight Frank represented Equity Industrial. The portfolio consists of 31 industrial-grade buildings and two land parcels totaling 39 acres. The properties are located in seven of the nation's largest distribution markets: Colorado, Connecticut, Massachusetts, New Hampshire, New York, Pennsylvania and Texas. At the time of sale, the properties were 94 percent occupied by 38 tenants, including Home Depot, Penn Traffic, Regency Transportation, Tyco International, Lego, Staples, Kraft Foods, Jabil, Coca-Cola and Dial. Hackman Capital Partners is a Los Angeles-based private real estate investment firm that specializes in the acquisition, management, development and adaptive re-use of industrial real estate. Newport Beach, Calif.-based KBS invests in, manages and sells commercial real estate assets for institutional, corporate and private investors. Calare Properties manages and operates commercial real estate investments across New England. Size: 31 buildings, 39 acres, 11.4 million square feet Filed Under: Industrial E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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