LOS ANGELES—Colony Capital is on the verge of acquiring a 291-property industrial portfolio from Cobalt Capital for approximately $1.6 billion, according to published reports. Commercial Mortgage Alert reported Friday that GE Capital has agreed to provide $1.2 billion of the portfolio’s purchase price via a floating-rate loan. Spokeswoman for GE Capital and Colony tell GlobeSt.com their firms have no comment.

Loan terms are now being finalized, CM Alert reported, citing industry sources familiar with the matter. Colony is said to be weighing options that include varying amounts of proceeds tied to the degree of leverage, and reportedly is being advised by Eastdil Secured on the light industrial portfolio, which encompasses 29.5 million square feet. Eastdil and CBRE are jointly brokering the sale on behalf of Irving, TX-based Cobalt, CM Alert reported.

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