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.