Crow Holdings Sells Large US Industrial Portfolio to PGIM Real Estate for $425 Million
Posted on 08/27/2020
PGIM Real Estate, a real estate unit of Prudential Financial Inc., purchased an industrial portfolio on behalf of its U.S. core real estate strategy for US$ 425 million from funds managed by Crow Holdings Capital. The deal consists of eight-property industrial portfolio comprised of 15 buildings and totaling 4.7 million square feet of space. The assets are located in Atlanta, Dallas, Denver, Fort Worth, and Phoenix. This sale represents one of the largest portfolios of industrial assets to sell during the COVID-19 pandemic. Tenants include an array of national retail chains and corporations.