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|Colony Industrial Acquires the Yellow Brick Road Portfolio in Baltimore, MD|
Increases the firm's light industrial warehouse properties to more than 3.1 million square feet in Baltimore
DALLAS--(BUSINESS WIRE)--Colony Industrial announced today it has acquired a portfolio of two warehouse properties in Baltimore, MD, located at 8901 and 8965 Yellow Brick Road. Colony Industrial is the light industrial platform of Colony Capital, Inc. (NYSE: CLNY), a diversified global real estate investment firm with $43 billion of assets under management.
Colony Industrial acquired the Yellow Brick Road Portfolio on July 12, 2018, its second acquisition in Baltimore in the past two weeks. The properties total 219,760 square feet and offer immediate access to Interstate 95 and Interstate 695. The buildings are 100% leased to six high-quality tenants.
"Our latest acquisition in Baltimore has an excellent location in the Baltimore-Washington Corridor industrial market," said Lew Friedland, Managing Director at Colony Capital and head of Colony Industrial. "It's another example of our strategy to selectively acquire infill industrial properties in high-demand markets that provide the critical last-mile link in the delivery cycle. We now own 24 light industrial logistics buildings in Baltimore."CBRE's Robert Cashman and Jonathan Beard acted as real estate brokers on the transaction.
About Colony IndustrialHeadquartered in Dallas, TX, Colony Industrial is the industrial platform of Colony Capital, Inc. The platform owns and manages 47.5 million square feet of warehouse buildings in 20 major markets across the United States, with a gross asset value of more than $3.5 billion as of June 30, 2018. Its diversified tenant base includes major national B2B, B2C, wholesale and consumer businesses. For more information, visit www.clny.com/industrial.
About Colony Capital, Inc.Colony Capital, Inc. (NYSE: CLNY) is a leading global investment management firm with assets under management of $43 billion. The company manages capital on behalf of its stockholders, as well as institutional and retail investors in private funds, non-traded and traded real estate investment trusts and registered investment companies. Colony Capital has significant holdings in: (a) the healthcare, industrial and hospitality property sectors; (b) Colony Credit Real Estate, Inc. (NYSE: CLNC) and NorthStar Realty Europe Corp. (NYSE: NRE), which are both externally managed by subsidiaries of Colony Capital; and (c) various other equity and debt investments. Colony Capital is headquartered in Los Angeles with over 400 employees in offices located across 19 cities in ten countries. For additional information regarding the Company and its management and business, please refer to www.clny.com.
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