BOSTON–TA Realty LLC, a Boston-based provider of real estate investment management services to institutional and private investors, announced that, on behalf of The Realty Associates Fund VIII, L.P. (“Fund VIII”) and The Realty Associates Fund X, L.P. (“Fund X”), it has sold a 2.8 million-square-foot, 20 property industrial portfolio to Colony NorthStar (NYSE: CLNS) for $201 million.
“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,” said Tom Landry, Managing Partner at TA Realty. “The high quality of this portfolio, considering the strategic location of the assets and their strong recurring cash flows, attracted interest from a number of well-capitalized buyers. We are pleased with the outcome of the transaction and the value we created for our investors.”
The industrial assets that comprise 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 that focuses on creating diversified real estate portfolios that generate strong cash flow, benefit from intensive asset management and result in long-term value creation.
The TA Realty team members involved include Partners Nicole Dutra Grinnell, who executed the disposition, and J. Blair Lyne, who acquired the majority of the assets in the portfolio.
TA Realty is among the largest providers of real estate investment management services to institutional and private investors. Since its inception in 1982, TA Realty has managed more than $25 billion of real estate assets through a series of value-added, commingled funds and customized core separate accounts.