Nuveen Real Estate has bought a US portfolio of light industrial assets worth $136m (€119.8m) from Colony Capital’s industrial platform.
Colony Industrial said it sold a total of 2.3m square feet of warehouse assets in Atlanta, Dallas, Houston and Pennsylvania/New Jersey.
The portfolio includes eighteen buildings in Atlanta, 5 buildings in Dallas, 5 buildings in Houston and 6 buildings in Pennsylvania/New Jersey.
Lew Friedland, a managing director at Colony Capital and head of Colony Industrial, said: “We’ve owned and operated these assets for some time and the portfolio value had achieved Colony Industrial’s targets.
“We reevaluate the portfolio as opportunities arise, and this sale to Nuveen enables us to rebalance our property mix to align with Colony Industrial’s long-term strategic plans.”