CalEast Industrial Investors LLC bought CenterPoint Properties Trust (Chicago). CalEast will pay approximately $3.4 billion, including debt and preferred stock.
CenterPoint Properties Trust is a publicly traded real estate investment trust and the largest industrial property company in the Chicago area. As of September 30, 2005, CenterPoint owned approximately 38 million sq. ft. and owned or controlled an additional 3,053 acres of land upon which 44 million square feet could be developed.
Based in Columbus, Ohio, CalEast, is a real estate operating company owned by LaSalle Investment Management, Inc. and The California Public Employees’ Retirement System (CalPERS). CalEast owns over 45 million square feet of industrial real estate, including warehousing, light assembly and distribution centers throughout the United States, Canada and Mexico.
Source: CalEast Industrial Investors and CenterPoint Properties Trust.