Big North Texas industrial property portfolio changes hands
Millions of square feet of North Texas industrial properties have changed hands as part of an almost $6 billion nationwide deal. California-based Colony Capital Inc. sold the light industrial buildings to a Blackstone real estate fund for $5.7 billion. The deal, which was first disclosed in September, includes 465 industrial properties in 26 U.S. markets. Almost 60 million square feet of buildings changed hands. The largest concentrations of the buildings were in Dallas, Atlanta, Chicago, Florida and New Jersey. County tax records show that Colony Capital and its affiliates had almost two dozen properties just in the Dallas area. Almost another dozen are in Tarrant County. Colony Capital lists almost 7 million square feet of industrial real estate in the D-FW area. The D-FW area is one of the country’s top industrial real estate markets, with more than 20 million square feet of buildings in the development pipeline.
Tags : INTERNATIONAL Texas industrial property real estate Texas Colony Capital Blackstone real estate fund North Texas industrial properties