Details
- Size: 2,600,000 sq. ft.
- Location: Dallas | Memphis | Chicago | Boston
LIT Portfolio
GE Real Estate and Champion formed a joint venture to acquire the LIT Portfolio, which encompassed 13 separate properties with a total of 2.6 million square feet of space located in Dallas, Memphis, Chicago, and Boston. The seller was ING Clarion out of their much larger Lion Industrial Trust portfolio of assets. Champion implemented several value-creation leasing and marketing strategies for this portfolio in just the first year of ownership. Within a year of owning the portfolio, the institutional investment community continued to be active buyers of high-quality industrial assets, so Champion made the decision to sell the portfolio. This $114.1 million disposition transaction included the assumption by the buyer of the existing life company loan that Champion/GE originally secured at portfolio acquisition.