| Abstrakt: |
Colony Capital, Inc. (NYSE: CLNY) (“Colony” or the “Company”) announced today the sale and closing of its 51% ownership stake in the Colony Bulk Industrial Portfolio at a $400M total portfolio value. The transaction generated over $85M in net equity proceeds to Colony, supporting its strategic plan to rotate the balance sheet and redeploy capital into digital infrastructure. The sale is a final step in Colony’s exit from the industrial real estate sector and comes at a premium to carrying value for the asset, which was held at $69 million of net equity as of September 30, 2020. [ABSTRACT FROM PUBLISHER] |
