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April 5, 2017 Comments Off on Brookfield Acquires Industrial Office Portfolio for $854M Views: 2559 California News, Illinois, National News, Texas News, Top National

Brookfield Acquires Industrial Office Portfolio for $854M

April 5, 2017

Toronto-based Brookfield acquired a 45-asset portfolio totaling 8.6 million square feet from Boston-based TA Realty LLC for $854.5 million. Funds managed by Brookfield took over the mix of high-quality industrial and office properties from The Realty Associates Fund IX, L.P.

The portfolio is nationally-diversified with assets located across 12 states. The vast majority of the properties are leased to investment grade tenants and situated in high-barrier-to-entry markets, including Los Angeles, Dallas, Chicago and Washington, DC metros.

“With this sale, we have successfully monetized a significant number of assets in Fund IX, including all of the remaining industrial assets,” said TA Realty’s Tom Landry.

TA Realty Partners’ Nicole Dutra Grinnell, Michael Haggerty, Jim Raisides and Luke Marchand handled the deal for the investment manager. JLL’s Peter Nicoletti, Maggie Coleman, Lucy Fletcher and Frank Petz represented TA Realty.

Representative SoCal asset

Read more at Business Wire

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