Industrial Logistics Properties Trust Announces Closing of Twelfth Property in $680 Million Joint Venture
Industrial Logistics Properties Trust - Common Shares of Beneficial Interest (ILPT)
Last industrial logistics properties trust - common shares of beneficial interest earnings: 4/30 07:00 am
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businesswire.com/news/home/20180111006245/en/industrial-logistics-properties-trust-prices-initial-public
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Source: Business Wire
Twelfth Property is 100% Leased to Amazon ILPT Received Additional Proceeds of $26 Million, Bringing the Total Proceeds to Approximately $108 Million, and Owns a 61% Equity Stake in the 12 Property Joint VentureSold 39% Joint Venture Equity Interest at a 5.8% GAAP Capitalization Rate NEWTON, Mass.--(BUSINESS WIRE)--Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced that it has closed on the twelfth and final property included in its previously announced $680 million joint venture with an Asian institutional investor. The property is 100% leased to Amazon. The investor contributed approximately $26 million for this twelfth property in addition to the approximately $82 million contributed for the initial 11 properties last month. The investor owns a 39% equity interest in the joint venture and ILPT owns the remaining 61% equity interest in the joint venture. The joint venture also assumed approximately $57 million of existing secured debt on this twelfth property in
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ILPT
Earnings
- 10/29/24 - In-Line
ILPT
Sec Filings
- 11/15/24 - Form 8-K
- 11/12/24 - Form SC
- 11/8/24 - Form SC
- ILPT's page on the SEC website