Deutsche Asset Management has announced the acquisition of a 19-property portfolio totaling 3.3 million sqf of industrial real estate from International Airport Centers. The portfolio, which consists of 35 buildings, is 99 percent leased to 76 tenants with an average tenant size of approximately 40,000 sqf. Deutsche AM acquired the portfolio on behalf of an institutional investor through direct negotiation with IAC’s investment advisor, Perlmutter Investment Company. The properties are located in seven major distribution markets, Los Angeles, San Francisco, Seattle, Dallas, Chicago, Portland and San Diego.
“The portfolio’s geographic diversity across large distribution hubs and a stable tenant base makes it an attractive investment,” said Todd Henderson, Head of Alternatives – Real Estate, Americas. “We are excited about the acquisition of such a diverse portfolio of industrial real estate and “appreciate the opportunity to work with IAC on this transaction.”
