First Industrial, KFH Make $70-Mil Buys

By Mark Ruda | January 10, 2002 at 01:01 AM

CHICAGO-The seven unidentified properties, involving 1.4 million sf, are the first acquisitions by the institutional fund involving First Industrial Realty Trust, Inc. and the Kuwait Finance House.

A company spokeswoman declined to specify the locations of the properties purchased in the fund's first round of acquisitions.

Kuwait Finance House has put up $100 million while First Industrial's initial stake was $17.6 million. However, the REIT arranged a $125-million secured revolving credit line from Deutsche Bank to pay for acquisitions.

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