- To be acquired is Cobalt Capital Partners and its portfolio of 256 primarily light industrial assets. The properties are leased to more than 600 tenants and total over 30M square feet across 16 major U.S. markets. The management team is being retained to run the day-to-day operations, and the deal should close before year-end.
- Colony Financial (CLNY) has arranged 70% financing, and the portfolio is expected to have an initial NOI yield of 7%, and an initial annual ROE of about 10%.
- Source: Press Release