The unnamed Asian investor will contribute approximately $108 million for a 39% equity interest in the joint venture and ILPT will own the remaining 61% equity interest in the joint venture.
Partners Group sold the 88-property portfolio on behalf of a client, upon implementing a transformational, value-add program and securing 98% occupancy.
The three off-market transactions, completed within one week, add 1.78 million square feet to the company’s portfolio.
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