CHICAGO—Chicago-based IndCor has acquired two portfolios adding nearly 40 million sq. ft. to its property portfolio. The 16.3-million-sq.-ft. expansion from the Dexus portfolio and 23.3-million-sq.-ft. expansion from a prominent West Coast portfolio brings IndCor’s property portfolio to more than 85-million-sq.-ft.
The new IndCor platform offers geographical balance with 64 percent of the portfolio being located in coastal markets.
“Given the ultra-competitive investment focus on the West Coast markets, it is especially satisfying to create critical mass at such a favorable basis,” said Tim Beaudin, president and CEO of IndCor.
Formed in 2010 as a portfolio company of The Blackstone Group, IndCor Properties Inc. owns and manages property in 40 markets in 23 states.