INDUS Realty Trust, Inc. acquired a majority interest in a 4.3 million square foot logistics portfolio comprising 21 buildings (the “Carolinas Portfolio”). This acquisition is part of a recapitalization of approximately one-third of Childress Klein’s (“CK”) 13.2 million square foot industrial portfolio. INDUS and CK have entered into a joint venture on the Carolinas Portfolio, with CK retaining a minority ownership stake and continuing to manage and lease the properties. The acquisition values the Carolinas Portfolio at $575 million.

The Carolinas Portfolio, which is 94% leased, includes 16 buildings in Charlotte, North Carolina, and 5 buildings in Charleston, South Carolina. These regions have been among the top-performing industrial markets, driven by their robust population growth and economic development, strategic access to essential infrastructure such as ports and intermodal yards, and burgeoning manufacturing investments.

The Carolinas Portfolio features a mix of last-mile, regional, and bulk logistics properties. The buildings and individual tenant suites average 205,000 and 78,000 square feet in size, respectively, and the properties have a weighted average age of 13 years.

Eastdil Secured represented Childress Klein in arranging the transaction.

D.A. Davidson’s Development Finance Group, J.P. Morgan and co-manager Truist Securities secured $575 million in financing for Centennial Yards, the 50-acre revitalization project set to transform “The Gulch” district in Atlanta.

The bonds were issued through the Atlanta Development Authority and consisted of $219 million in Senior Revenue Bonds secured by property tax increment within the Westside Gulch and $356 million Convertible Capital Appreciation Economic Development Certificates secured by a 5% EZ Fee (similar to sales tax) to be collected within the Centennial Yards project.

Centennial Yards will feature a mix of residential, commercial, retail and entertainment spaces. The project will ultimately deliver over 2,600 residential units, with 20% designated as affordable housing. Nearly 3,000 hotel units, ranging from full-service to boutique offerings, will complement more than 900,000 square feet of retail and entertainment space, including a flagship hotel and an entertainment district.

The buildout is expected to add more than 5.7 million square feet of mixed-zoned residential, commercial and retail space to downtown Atlanta, with final delivery expected by 2030.