Downtown-based Colony Capital Inc.’s industrial platform, Dallas-based Colony Industrial, sold a light industrial portfolio to Nuveen Real Estate Ltd. for $136 million, Colony Capital announced Feb. 25. The portfolio has 2.3 million square feet in Atlanta, Dallas, Houston, as well as properties in Pennsylvania and New Jersey. “We’ve owned and operated these assets for some time and the portfolio value had achieved Colony Industrial’s targets,” said Lew Friedland, managing director at Colony Capital and head of Colony Industrial, in a statement. “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.” CBRE Group Inc.’s CBRE National Partners represented Colony Capital in the sale.

For reprint and licensing requests for this article, CLICK HERE.