A joint venture between CB Richard Ellis Trust and Duke Realty Corp. completed the purchase of a 20-property portfolio valued at $516 million according to a CoStar report. The deal, reportedly the largest transaction in the REIT's history, was broken into three phases of acquisition; this final phase covered 13 office buildings with 2.05 million square feet in four states for approximately $342.8 million. CBRE Realty Trust owns 80% of the partnership and Duke retains the remaining interest.
The properties included in the portfolio are listed as:
Norman Pointe I: Minneapolis, MN, with 212,722 square feet of space
Norman Pointe II: Minneapolis, MN, with 324,296 square feet of space
The Landings I: Cincinnati, OH, with 175,695 square feet of space
The Landings II: Cincinnati, OH, with 175,076 square feet of space
One Easton Oval: Columbus, OH, with 125,031 square feet of space
Two Easton Oval: Columbus, OH, with 128,674 square feet of space
Atrium I: Columbus, OH, with 315,102 square feet of space
Weston Pointe I: Ft. Lauderdale, FL, with 97,579 square feet of space
Weston Pointe II: Ft. Lauderdale, FL, with 97,180 square feet of space
Weston Pointe III: Ft. Lauderdale, FL, with 97,178 square feet of space
Weston Pointe IV: Ft. Lauderdale, FL, with 96,175 square feet of space
One Conway Park: Chicago, IL, with 105,000 square feet of space
West Lake at Conway: Chicago, IL, with 99,538 square feet of space
For more news and information visit Blumberg Capital Partners.
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