Thompson Coburn represented CRG in a recent $425.15 million portfolio sale of five new Class A industrial assets to PRP LLC, a leading investment management firm focused on credit net lease investments. The portfolio sale is the largest multi-property disposition by CRG to date.
Totaling over 4.52 million square feet, the properties are located in metro Houston, St. Louis, Birmingham, Ala., and Greenville-Spartanburg, S.C. The sites are fully leased by companies including an industry leading power tools manufacturer, a major international e-commerce user, and a leading national home improvement company.
Thompson Coburn client CRG is a privately held, national real estate development and investment firm that has developed more than 10,000 acres of land and delivered over 210 million square feet of commercial, industrial, institutional and multifamily assets exceeding $13 billion in value. CRG’s parent company, Clayco served as the builder for the projects.
The sale signals CRG's growing reputation with investors and tenants for top sites and high-quality, state-of-the-art warehouse and distribution facilities throughout the country. Shawn Clark, president of CRG said “PRP is a leading investor in Class-A tenant assets, and their acquisition of these assets – and the high quality of the tenants leasing them – is a testament to our national strategy, vertically integrated planning-design-construction model that allows us to respond nimbly and quickly to opportunities."
Although we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you (an ‘engagement letter’).
By clicking the ‘ACCEPT’ button, you agree that we may review any information you transmit to us. You recognize that our review of your information, even if you submitted it in a good faith effort to retain us, and, further, even if you consider it confidential, does not preclude us from representing another client directly adverse to you, even in a matter where that information could and will be used against you. Please click the ‘ACCEPT’ button if you understand and accept the foregoing statement and wish to proceed.