WESTPORT, CT—Following up on last week's report thatGreenfield Partners had acquired a group ofindustrial properties in the Phoenix metro area, a more complete picture ofthe locally based private investment manager's acquisition hasemerged. CBRE Capital Markets said Monday that ithad represented the seller, a real estate investment managerrepresenting RREEF America REIT II, in the sale ofthe eight-state, 7.8-million-square-foot portfolio to funds managedby Greenfield. The RREEF entity is managed by DeutscheAsset & 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 alltold, the portfolio includes multiple properties in the Chicago,Oklahoma City, Minneapolis and Phoenix markets, with others in ornear Boston, Cincinnati, Denver and Wilmington, DE. It's leased tomore than 400 tenants, and was 89% occupied at closing, saysCBRE.

A portion of the portfolio, 16 properties in Oklahoma City,closed this past August. Representing just under 1.3 million squarefeet, this portion of the RREEF portfolio traded for $55.4 million,industry data reveal.