CalPERS Venture to Buy CenterPoint Properties
From Bloomberg News
An investment firm owned in part by CalPERS agreed to buy CenterPoint Properties Trust, which invests in industrial property in the Chicago area, for $50 a share in cash, or $2.4 billion.
The buyer, CalEast Industrial Investors, invests in warehouses and distribution centers in North America. Its members include the California Public Employees’ Retirement System and LaSalle Investment Management Inc., a unit of Chicago-based real estate services giant Jones Lang LaSalle Inc.
Including the assumption of debt and preferred stock obligations, the transaction is valued at $3.4 billion.
