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Chambers Street Properties Reportedly Exploring Sale

Chambers Street Properties Reportedly Exploring Sale

Princeton, NJ-based Chambers Street Properties is reportedly exploring a sale. Chambers Street manages 127 industrial and commercial properties in the US and Europe. The $1.8B REIT has received an acquisition proposal from at least one rival, according to Bloomberg. Shares of the company have dropped by 5.1% this year, in line with other REITs that have also fallen mainly due to concerns on rising interest rates. CEO Jack Cuneo resigned in March and was replaced by CFO Martin Reid on an interim basis. [BB]