(Read more on the industrial market.)

NEEDHAM, MA-An 11.4-million-sf portfolio of CRE assetsstretching from New Hampshire to Colorado has been sold in onepackage for $516 million. After spending 15 years buying anddeveloping the portfolio, locally based Equity Industrial Partnershas divested most of its southern New England investments and otherproperties in New York, Pennsylvania and Texas, a deal initiallyreported last week by GlobeSt.com.Principals at EIP include Donald Levine and Lewis Heafitz

The buyer is a partnership of the KBS REIT, Hackman CapitalPartners and Calare Properties. KBS and Hackman are headquarteredin Southern California, while Calare is a Hudson-based company thatspecializes in similar product as that acquired from EPI. "Thisacquisition presents a terrific opportunity for our team tocapitalize on what we do best, buying highly functional industrialproperties in good markets with great tenants and significantupside potential," Hackman Capital CEO Michael Hackman says in arelease acknowledging the deal. Citing confidentiality rulesrelating to SEC restrictions, principals involved in thetransaction declined to discuss specifics of the sale beyond thedetails provided in the press release.