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Exclusive: Industrial Property Trust explores options including sale - sources


By O'Donnell

(Reuters) - , a portfolio of U.S. industrial properties valued at around $3.3 billion, is exploring options, including a potential sale or equity recapitalisation, according to people familiar with the matter.

IPT has retained an to solicit interest from potential buyers, which could include private equity firms, public pension plans and other large real estate investors, the sources said this week.

If it opts for a recapitalisation rather than a sale, firm Black Creek Group, which created IPT in 2012, would continue to manage the properties.

The sources asked not to be identified because the deliberations are confidential. and IPT did not immediately respond to requests for comment.

IPT raised around $2 billion in capital in 2013 by issuing non-tradable shares to numerous private and individual investors. It has since acquired around 280 properties across the in a variety of industrial applications ranging from distribution to research and development.

Based in Denver, Colorado, has sponsored 18 platforms and operated more than 1,300 properties across sectors including office, industrial, retail and multifamily.

It has also developed more than $3 billion worth of properties, including 68 stores.

Valuations of industrial trusts have climbed in recent years, as a steady rise in has boosted demand for distribution centres.

The sector has also had a recent influx of private equity interest. Last year, a Chinese buyout consortium bought (GLP), Asia's biggest warehouse operator, for nearly $12 billion.

Also in 2017, agreed to acquire European warehouse owner from buyout firm for nearly $14 billion.

(Reporting by O'Donnell in New York; Editing by Matthew Lewis)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 15 2018. 03:31 IST