Colony Capital has officially exited the industrial market. The firm has closed the sale of the Colony Bulk Industrial Portfolio for $400 million in value, generating $85 million in net equity proceeds. The sale was the final step in the REIT's exit from the industrial sector.

Over the last few years, the firm has been selling off its legacy assets in order to focus on digital real estate and digital infrastructure.

"We made terrific progress on our digital transformation this quarter," said Marc Ganzi, president and CEO during its third quarter earnings report. "Bringing high-quality digital assets onto the balance sheet, growing our digital investment management franchise, and harvesting value from our legacy assets are our key priorities."

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.