News
National Office

Columbia Property Trust Sells 11 Properties for $433.3M

Columbia property Trust President & CEO Nelson Mills

Atlanta-based REIT Columbia Property Trust has sold 11 properties totaling 2.9M SF to an undisclosed real estate private equity fund for $433.3M. The properties are mainly single-tenant office properties located in Baltimore, Boston, Chicago and Northern New Jersey. The move is part of Columbia’s overall portfolio repositioning from single-tenant to multi-tenant assets in a smaller number of markets. Proceeds from the sale will be used to repay the trust's revolving credit facility and reduce outstanding debt. Columbia is marketing additional properties, including 1881 Campus Commons in Reston, VA and 263 Shurman Blvd. in suburban Chicago. [COS]

Continue reading this story with a free account

Log in or register
Related Topics: Columbia Property Trust, REIT
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Boston Property Owners Raise Alarms About Cost Of Electric-Building Push