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]
)
)
)
)
)
)
)
)
)
)
)
)