WESTPORT, CT—Following up on last week’s report that Greenfield Partners had acquired a group of industrial properties in the Phoenix metro area, a more complete picture of the locally based private investment manager’s acquisition has emerged. CBRE Capital Markets said Monday that it had represented the seller, a real estate investment manager representing RREEF America REIT II, in the sale of the eight-state, 7.8-million-square-foot portfolio to funds managed by Greenfield. The RREEF entity is managed by Deutsche Asset & Wealth Management in Chicago.

The purchase price was not disclosed; industry data puts it at $400 million, or about $51 per square foot. With 94 buildings all told, the portfolio includes multiple properties in the Chicago, Oklahoma City, Minneapolis and Phoenix markets, with others in or near Boston, Cincinnati, Denver and Wilmington, DE. It’s leased to more than 400 tenants, and was 89% occupied at closing, says CBRE.

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