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What Does The Heat Up In Big Industrial Transactions Portend?

It came out that Brookfield Asset Management Inc. is putting IDI Logistics, one of the world’s leading investors and developers of logistics real estate, on the block, according to Bloomberg News. While the asking price has not been disclosed, IDI Logistics, which was acquired by Brookfield for $1.1 billion in 2014, is expected to fetch about $5 billion.

Last year, Brookfield also sold Glazeley, a 33 million-sq.-ft. European warehouse business, to Singapore-based Global Logistic Properties for $2.8 billion.

This comes after DCT Industrial Trust, Inc., a publicly-traded REIT with 71 million sq. ft. of assets in all major U.S. distribution markets and a deep development pipeline, sold to Prologis, Inc. for $8.4 billion earlier this summer.

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Gramercy Property Trust Buys Warehouse In Medley For $18M

An affiliate of the New York City-based Gramercy Property Trust paid $18 million for a warehouse in Medley, records show.

The 110-acre warehouse at 7321 Northwest 75th Street sold for about $151 per square foot. Property records show the seller, Venevision Studios LLC, an entity of the Coral Gables-based Cisneros Real Estate, paid $10 million for the warehouse in 2005.

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