TA Realty has sold a 45 asset portfolio to Brookfield Property Partners for $854.5 million. Encompassing a mix of industrial and office properties totaling approximately 8.6 million square feet, the portfolio is nationally-diversified with assets located across 12 states. The majority of the properties are leased to investment grade tenants and situated in large U.S. cities including Los Angeles, Dallas, Chicago and Washington, DC metros. Jones Lang LaSalle represented TA Realty in transaction negotiations.
“With this sale, we have successfully monetized a significant number of assets in Fund IX, including all of the remaining industrial assets,” said Tom Landry, Managing Partner at TA Realty. “We believe the outcome of this transaction represents an attractive risk-adjusted return on invested capital, and we look forward to distributing the proceeds to our investors.”
