Affiliates of Centerbridge Partners, L.P., and GIC have completed the all-cash acquisition of INDUS Realty Trust, Inc., a New York City-based industrial/logistics REIT. Valued at approximately $868 million, the transaction was first announced in February and is further supported by a strategic investor from Abu Dhabi Investment Authority (ADIA).
Billy Rahm, global head of real estate at Centerbridge commented on the partnership saying “We are excited to partner with ADIA and GIC to continue to grow the business both organically and through acquisitions. We remain confident in the long-term thesis supporting investment in industrial real estate; INDUS portfolio represents an excellent example.”
Following completion of this acquisition, INDUS has ceased trading on NYSE as it now owns 44 industrial/logistics buildings totaling 6.6 million square feet across Connecticut, Pennsylvania North Carolina South Carolina & Florida regions respectively.
